echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The long-short game is fierce, and the aluminum price fluctuates sharply

    The long-short game is fierce, and the aluminum price fluctuates sharply

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai aluminum main month 2204 contract, opening 21880 yuan / ton, the highest intraday 22160 yuan / ton, the lowest 21720 yuan / ton, settlement 21925 yuan / ton, the end closed at 21855 yuan / ton, down 70 yuan, down 0.
    32
    .
    Today's Shanghai aluminum gap low opening shock operation, the recent macro uncertainty is strong, the long-short game is fierce, aluminum prices fluctuate sharply, superimposed on the spread of the epidemic in many places in China, interfering with the rhythm of raw material production and transportation, short-term aluminum prices remain strong
    .

    Aluminum prices

    In terms of external trading, today's Lun aluminum opened high and down, LME three-month Beijing time at 15:01 at 3460 US dollars / ton, down 20 US dollars, or 0.
    57%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 21880-21920 yuan / ton, up 20 yuan; Guangdong South Reserve reported 21830-21890 yuan / ton, up 40 yuan; Hua reported 21930-21970 yuan / ton, up 20 yuan
    .
    Traders' bullish sentiment spread, holders were eager to sell, receivers continued to buy on the dip, a small amount of replenishment, and the trading atmosphere was relatively light
    .

    In terms of inventory, as of March 10, according to Mysteel statistics, China's electrolytic aluminum social inventory was 1.
    168 million tons, down 12,000 tons
    from March 7.

    In general, from the current market situation, March affected by multiple factors at home and abroad, aluminum price fluctuation frequency will increase, volatility range will widen, but overseas situation changes and high energy prices on LME aluminum prices have always formed a strong support, and then transmitted to domestic aluminum prices, superimposed demand season gradually coming, internal and external price comparison to boost exports increase expectations, so it is expected that March aluminum prices will remain high overall
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.