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    Home > Chemicals Industry > New Chemical Materials > The market digests weak data over the weekend It is expected that Shanghai aluminum consolidation will be the main today

    The market digests weak data over the weekend It is expected that Shanghai aluminum consolidation will be the main today

    • Last Update: 2022-11-30
    • Source: Internet
    • Author: User
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    Lack of demand weakened the momentum of aluminum prices, and Lun aluminum fell by $3 the next week, the data showed that the decline in China's primary aluminum production expanded to show that the demand for aluminum market is not good, short-term sentiment is biased, and aluminum is expected to rise or fall little
    today.

    Aluminum prices

    Affected by the lack of market demand, the momentum of aluminum price growth weakened, and Lun aluminum fell by $3 the next week, and the latest closing price was $1563, down 0.
    2%; Today's Shanghai aluminum opening is mixed, the current month 1603 contract opened at 11245 yuan, up 15 yuan, 9:20 Shanghai aluminum 1603 contract latest price is 11240 yuan, up 10 yuan; The overall performance of domestic industrial data at the weekend was weak, and today's market may digest the weekend data, and it is expected that Shanghai aluminum or consolidation will be the main
    one today.

    The latest inventory of London Metal Exchange (LME) on the 11th was 2,884,300 metric tons, an increase of 11,875 metric tons over the previous trading day's inventory, and the latest inventory of aluminum alloy was 16,200 metric tons, unchanged
    from the previous trading day's inventory.

    Last week, the overall price of domestic spot aluminum rose and fell limited, the weekly average price of AOO aluminum ingots was reported at 11216 yuan / ton, both down 2 yuan / ton, up 20 yuan / ton, and the weekly average price of AOO aluminum ingots in East China was 11272 yuan / ton, both down 18 yuan / ton; According to the latest information released by the National Bureau of Statistics on March 12, the output of primary aluminum (electrolytic aluminum) in January and February was 4.
    55 million tons, a year-on-year decrease of 7.
    7%.

    The decline in electrolytic aluminum production has widened, indicating that the overall market demand is not good, and the market sentiment is cautious today, and spot aluminum is expected to rise or fall limited
    .

    The U.
    S.
    aluminum industry is redoubling its lobbying efforts to persuade the Obama administration to question China's trade practices, which industry sources say violate international rules and lead to large exports of low-priced Chinese aluminum products to the United States
    .
    So far, the U.
    S.
    aluminum production industry's calls for U.
    S.
    government intervention have gone unanswered
    .
    In October, several U.
    S.
    aluminum producers filed a joint complaint with the U.
    S.
    Department of Commerce, accusing a large Chinese aluminum producer of cheating to evade export tariffs
    .

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