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Daily review: aluminum enterprises and production pressure aluminium pressure lower

by:Deyuan      2020-12-23
International markets are: Aaron steady decline aluminum stocks and the dollar index fell a boost, today's aluminum rise in vibration, support on above $1650. Beijing time therefore, LME3 three-month aluminum $1590, compared with the previous trading day up ten. Five dollars.

( ) Domestic market: today Shanghai aluminum 1611 contracts opened 11935 yuan, main month low intraday high of 12030 yuan, 11850 yuan, in late 11995, the previous trading day down 45 yuan/ton. Market continues to increase profit driven aluminum enterprises and production enthusiasm, new capacity effect began to emerge, short-term price pressure performance weak, today Shanghai aluminum fell slightly, rising prices overall current power is insufficient, the market outlook is expected to market weak turbulence.

the spot market: today's spot price is 12400 - 12440 yuan/ton, down 180 yuan/ton. Guangdong south store at 12360 - 12460 yuan/ton, down 160 yuan/ton. China reported 12510 - 12530 yuan/ton, down 180 yuan/ton. Stock clinch a deal the average price in 12400 - at home 12440 yuan/ton. Today is aluminum fell sharply, the shipper of normal shipment, middlemen receiving partial cautious, downstream bargain hunting has increased, the market clinch a deal is fair.

news both at home and abroad:

1, Japanese buyers intends to reduce aluminum purchases in the annual contracts, turned into the spot market, because of recent months continued supply glut, makes the aluminum spot premiums fell to lowest more than seven years. Japan is Asia's largest importer of aluminum. Japanese buyers mostly in the form of annual contracts to purchase aluminum, aluminum premium through each quarter negotiation, and as a regional benchmark prices.

2, the two sides recognize that because of the global economic recovery is slow and weak market demand, excess capacity increasing, the electrolytic aluminium industry become a global problem, requires a collective response. The two sides will work together to deal with global aluminium overcapacity problem. The United States welcomes China to advance to capacity for the supply side of the goal of structural reforms.
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