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    Home > Chemicals Industry > New Chemical Materials > Traditional off-season accumulation Shanghai aluminum is weak and oscillating

    Traditional off-season accumulation Shanghai aluminum is weak and oscillating

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 2203 contract, opening 21660 yuan / ton, the highest intraday 21820 yuan / ton, the lowest 21220 yuan / ton, settlement 21505 yuan / ton, the end closed at 21485 yuan / ton, down 20 yuan, down 0.
    09%; The trading volume of the main 2203 contract of Shanghai aluminum increased by 125153 lots 336253 lots throughout the day, and the position volume 214566 decreased by 7301 lots
    .

    Shanghai aluminum

    Today's Lun aluminum fluctuated at a low level, and the LME reported at $3,046 / ton at 15:01 Beijing time for three months, down $7, or 0.
    21%, from the settlement price of the previous trading day
    .

    In terms of the market, today's spot trading price of Yangtze River was 21350-21390 yuan / ton, down 270 yuan; Guangdong South Reserve reported 21330-21390 yuan / ton, down 260 yuan; Hua reported 21410-21450 yuan / ton, down 270 yuan
    .
    Spot circulation was relaxed, holders were bearish and actively shipped, receivers were generally enthusiastic about purchasing, and the trading atmosphere was weakened
    .

    At present, the resumption of electrolytic aluminum production capacity continues to increase, but superimposed on the winter due to environmental protection and the production restrictions of the Winter Olympics, the overall supply of electrolytic aluminum is not relaxed
    .
    On the other hand, approaching the Spring Festival, downstream processing enterprises gradually took a holiday in advance, and the demand side formed a large bearishness
    .
    The price of alumina on the cost side rebounded slightly, the price of thermal coal continued to rise, the cost of electrolytic aluminum moved up, and the profitability of aluminum plants declined
    .
    At present, the market has rebounded after continuous weakening, and the concentrated stocking of downstream enterprises before the holiday is gradually coming to an end
    .

    Today's Shanghai aluminum is weak and volatile, the recent domestic policy sentiment is warm, and alumina production is reduced, but the Spring Festival holiday is coming, and the traditional off-season accumulation logic suppresses the upward trend of aluminum prices
    .

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