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    Home > Chemicals Industry > New Chemical Materials > The aluminum market will remain volatile in the short term

    The aluminum market will remain volatile in the short term

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
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    On Wednesday, the main monthly 1902 contract of Shanghai aluminum opened at 13,710 yuan, with an intraday high of 13,735 yuan and a low of 13,610 yuan, and closed at 13,615 at the end of the day, down 70 yuan / ton
    from the previous trading day.
    Goldman Sachs expects China's new aluminum production capacity to increase, aluminum prices are highly restrained, Shanghai aluminum fell slightly during the day, lack of favorable support for aluminum prices upward weakness, is expected to maintain a volatile market in the short term
    .

    Aluminum City

    In the external market, London aluminum inventories rose 3% to show weak market demand, intraday London aluminum fell slightly, and the lower support focused on $
    1900.
    At 15:45 Beijing time, LME 3-month aluminum was $1934, down $2/ton
    from the previous session.

    In terms of the market, the spot trading price of Yangtze River was 13530-13570 yuan / ton, down 60 yuan / ton; Guangdong South Reserve reported 13610-13710 yuan / ton, down 90 yuan / ton; Hua reported 13630-13650 yuan / ton, down 60 yuan / ton; The average domestic spot trading price is between
    13530-13570 yuan / ton.
    Aluminum fell slightly during the day, holders shipped actively, downstream enterprises were more willing to receive goods, and the market transaction was better
    .
    On the whole, the spot price of aluminum ingots followed the decline in futures, middlemen actively received goods, downstream on-demand procurement, and market transaction performance was acceptable
    .

    Industry News:

    1.
    The Indonesia Bintan Alumina Construction Project, jointly undertaken by MCC Overseas Indonesia and China Sanye, is the second large-scale alumina project invested by Chinese enterprises in Indonesia, with a total planned investment of 5.
    5 billion US dollars, with an annual output of 2 million tons of alumina and an annual output of 1 million tons of electrolytic aluminum
    in phases.

    2
    .
    The main business of Shanxi Huaxing includes the production and sales of aluminum and related mineral products, smelting products, processing products, carbon products and related non-ferrous metals.
    As of June 30, 2018, the book value of Shanxi Huaxing's total assets was 691,825.
    09 million yuan
    .

    During the day, the main 1902 contract of Shanghai aluminum fluctuated slightly, and on the whole, spot inventory continued to decrease, and the price also reached the support
    of 13500.
    Overall, the autumn and winter peak shifting production policy began to gradually affect the supply, the price of alumina in the later period or due to production restrictions is expected to rise, the cost side is supported, and at the same time affected by the low aluminum price, the enthusiasm for new production capacity is not high, and the supply side is weak
    .

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