echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The main shock of Shanghai aluminum fell slightly, and the market demand slowed down significantly

    The main shock of Shanghai aluminum fell slightly, and the market demand slowed down significantly

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Tuesday, the main 2108 contract of Shanghai aluminum fell slightly, with the highest 18990 yuan / ton, the lowest 18750 yuan / ton, and the close of 18820 yuan / ton, down 75 yuan / ton from the previous trading day's closing price; LME aluminum fluctuated slightly, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2522.
    5 / ton, down 0.
    34%
    from the previous session.

    Shanghai aluminum

    Market focus: (1) The UK added 22,868 new coronary pneumonia cases on June 28, the largest one-day increase since the end of January, and increased by more than 10,000 cases for eight consecutive days, with 3 new deaths
    .
    (2) The president of the Richmond Fed said that if the data is suitable, he may consider raising interest rates
    as early as 2022.

    Spot analysis, spot A00 aluminum reported 18800-18840 yuan / ton, the average price was 18820 yuan / ton, down 10 yuan
    daily.
    Yangtze River Nonferrous Metal reported that holders have reduced prices and sold goods, and the receiving party waited and watched to buy on demand, the market transaction was not good, and the transaction activity was average
    .

    Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 73,743 tons, down 25 tons from the previous trading day; LME stocks were 1577175 tonnes, down 8,975 tonnes
    per day.

    Main positions: the top 20 long positions of Shanghai aluminum 2108 contract held 136561 lots, minus 8464 lots per day, short positions 133471 lots, 7453 lots per day, net long positions 3090 lots, daily minus 1011 lots
    .
    Long and net more reduction, net long decrease
    .

    Market research and judgment: Fed officials have expressed mixed positions, and the market pays attention to the guidance of economic data in the future; The recent resurgence of the epidemic in the UK has triggered market risk aversion, and the US dollar index has risen; However, progress has been made on U.
    S.
    infrastructure plans, and a bipartisan agreement would be good for economic growth
    .
    In addition, the news that Russia plans to impose aluminum export tariffs continues to ferment, and the price
    of aluminum is more positive.
    However, due to the continuous rise in aluminum prices and the increase in market willingness to ship, some downstream processing companies said that orders in July and August were not as good as in May, reflecting signs of a slight weakening of consumption
    .
    China has entered the off-season, and demand has slowed down significantly
    .

    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.