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On Tuesday, the main 2011 contract of Shanghai aluminum continued to fluctuate, opening 18610 yuan / ton, 18405 yuan / ton low, closing at 18465 yuan / ton, down 50 yuan / ton, -0.
27%, Shanghai aluminum weak shock at night
.
Lun aluminum rebounded low, closing at $2251.
5 / ton, down $3.
5 / ton
.
The average price of spot Yangtze River is 18600 yuan / ton, flat, to the month - 45 yuan / ton
.
The average spot price of Nanchu is 18620 yuan / ton, flat, and the discount for the month is 25 yuan / ton
.
The circulation of the spot market is loose, the holders actively ship at the high, and the downstream stock on demand, and the transaction is
acceptable.
On the macro front, China's September financial data was released, and the growth rate of M2, social finance and new loans exceeded expectations
.
According to data released by the central bank, China's M2 in September increased by 12.
1% year-on-year, 0.
1 percentage points lower than the end of last month; RMB loans increased by 2.
47 trillion yuan, an increase of 810.
8 billion yuan year-on-year; and the increase in social financing scale was 3.
53 trillion yuan, 624.
5 billion yuan more than the same period last year.
Fed Mester said that given the current level of inflation, its broad coverage and its persistence, it believes that monetary policy will need to become more restrictive to allow inflation to fall sustainably to 2%.
Industry news, according to the International Aluminum Association (IAI), alumina production in Europe (including Russia) in August 2022 was 660,000 tons, down 4.
76% month-on-month, and production in July was 693,000 tons
.
This is down 27.
8%
compared to 914,000 tons in the same period last year.
The region's average daily production of alumina was 21,300 tons, down 4.
91% month-on-month and 27.
8%
year-on-year.
Alumina production in the region from January to August was 5.
881 million tons, down 15.
55%
from 6.
964 million tons in the same period last year.
As the LME banned Russian metals for the time being, the dollar resumed its rally and returned above 113, and Lun Aluminum almost gave up its gains during November
.
On the fundamental supply side, domestic Xinjiang automobile shipments are blocked, Sichuan continues to resume production, the earliest is expected to complete the resumption of production in November, others are still in the plan, the speed of resumption of production is not fast, and the supply is supported
.
However, in terms of consumption, after November, the warehouse slowed down, downstream wait-and-see, the current supply and demand are weak, aluminum prices are expected to remain range-bound
.
