echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The overall consumption of the market is weak, and Shanghai aluminum is facing shock sorting

    The overall consumption of the market is weak, and Shanghai aluminum is facing shock sorting

    • Last Update: 2022-12-23
    • 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 2201 contract, opening 18900 yuan / ton, the highest intraday 18930 yuan / ton, the lowest 18700 yuan / ton, settlement 18855 yuan / ton, the end closed at 18770 yuan / ton, down 85 yuan, down 0.
    45%.

    Today's Shanghai aluminum is weak and volatile, and the recent domestic electrolytic aluminum production continues to decline, but the market's expectation of tightening liquidity is heating up, suppressing aluminum prices, superimposed on the overall weak consumption, and the short-term decline in electrolytic aluminum inventory is difficult to expand, aluminum prices are facing shock sorting
    .

    Shanghai aluminum

    Today's Lun aluminum low fluctuated in a narrow range, and the LME was reported at $2622 / ton at 15:01 Beijing time for three months, down $13, or 0.
    49%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 18660-18700 yuan / ton, down 100 yuan; Guangdong South Reserve reported 18740-18800 yuan / ton, down 100 yuan; Hua reported 18730-18770 yuan / ton, down 90 yuan
    .
    The cargo holder continued to adjust the price yesterday and dump the goods, and the receiving party purchased low-priced goods on demand, the transaction was weak, and the transaction was relatively general
    .

    Industry news, the United Kingdom pressured the United States to act quickly on the issue of steel and aluminum tariffs, threatening to raise existing retaliatory tariffs
    .

    Inventory data, as of December 9, according to Mysteel statistics, China's electrolytic aluminum social inventory was 950,000 tons, down 14,000 tons from this Monday (December 6) and 614,000 tons
    in the same period last year.
    In terms of regions, Wuxi, Foshan and other places performed well and maintained the trend of destocking; Inventories in Ningbo, Jinan and Tianjin increased slightly; Inventories in Gongyi remained stable
    .

    At present, the impact of domestic smelter production restrictions continues, electrolytic aluminum production continues to grow negatively, while operating capacity continues to decline to 37.
    46 million tons / year, electrolytic aluminum social library maintains the rhythm of destocking, but the consumption off-season has arrived, and the market sentiment is more cautious, superimposed on real estate data continues to decline and the shortage of automotive cores has not improved, domestic demand has been dragged down to a greater extent, and aluminum or stable
    .

    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.