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    Home > Chemicals Industry > New Chemical Materials > The speed of destocking has slowed down, and aluminum prices fluctuated at a low level

    The speed of destocking has slowed down, and aluminum prices fluctuated at a low level

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2012 contract opened at 15865 yuan / ton, the highest intraday 15880 yuan / ton, the lowest 15750 yuan / ton, settled 15800 yuan / ton, and closed at 15880 yuan / ton, down 5 yuan
    .
    Today's Shanghai aluminum low volatility, aluminum exports increased sharply and imports decreased month-on-month, but electrolytic aluminum production capacity continued to release, the speed of destocking also slowed down, aluminum prices fluctuated
    .

    Aluminum prices

    In terms of external trading, today's London aluminum opened higher, LME three-month aluminum Beijing time at 15:00 at 1983.
    5 US dollars / ton, up 16 US dollars, or 0.
    81%,
    from the previous trading day's settlement price.

    In terms of the market, today's spot trading price of Yangtze River is 15910-15950 yuan / ton, down 50 yuan; Guangdong South Reserve reported 16050-16110 yuan / ton, up 10 yuan; Hua reported 16020-16040 yuan / ton, down 50 yuan
    .
    The market circulation source has increased, the enthusiasm of large households to receive goods is acceptable, the downstream procurement is more cautious, and the transaction activity is average
    .

    Industry news, customs data show that China's aluminum imports in October fell 27.
    9% from the previous month, as the domestic and foreign aluminum price gap continued to narrow, making it less attractive to buy overseas aluminum
    .
    Unwrought aluminium and aluminium imports totalled 256,619 tonnes
    last month.
    This is down from 355,999 tonnes in September and well below the 418,894 tonnes
    exported in October.
    The data shows that exports increased by 403.
    6%
    year-on-year.

    Aluminum prices closed down in volatility, but spot inventories continued to decline, which may provide support
    to aluminum prices.
    The domestic aluminum ingot market maintains a low inventory and stable consumption pattern, and the current downstream enterprises start work and orders are still flat compared with the previous period, indicating that consumption is still resilient, spot premiums continued to rise last week, and domestic aluminum prices rose
    sharply during the week 。 The biggest change on the domestic supply side is the confirmation of imported scrap aluminum, indicating that the future refined aluminum on scrap aluminum replacement effect will decline, the increase in scrap aluminum imports is a high probability event, aluminum ingot excess pressure will further increase, domestic and foreign alumina prices remain sluggish, electrolytic aluminum cost side support is insufficient, smelter profits remain high, industry investment capacity continues to release, electrolytic aluminum industry operating rate continues to rise, the pressure on the supply side in the fourth quarter is greater than the previous period, but the consumer side performance is strong, short-term electrolytic aluminum inventory is still difficult to accumulate, Overall, aluminum prices are expected to maintain a high volatility pattern
    .

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