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Daily review: aluminum prices rebound sharply bull market actively

by:Deyuan      2020-12-25
International market: the dollar index fell to boost funds market, today's aluminum rose sharply, support on above $1650. Beijing time, calm LME3 three-month aluminum $1574, a rise of $15 in the last trading day.

( ) Domestic market: today Shanghai aluminum 1607 contracts opened 11875 yuan, main month low intraday high of 12130 yuan, 11875 yuan, close to 12120 in late, than the previous trading day up 215 yuan/ton. Yesterday's data in line with market expectations ease concerns about the recent market, Shanghai aluminum rebounded sharply today, short positions as a safe haven, bull market actively, the aluminium market outlook is expected to maintain a strong volatility.

the spot market: today's spot price is 11940 - 11980 yuan/ton, down 30 yuan/ton; Guangdong south store at 12210 - 12310 yuan/ton, up 40 yuan/ton; China reported 12050 - 12070 yuan/ton, down 30 yuan/ton; Stock clinch a deal the average price in 11970 - at home 12010 yuan/ton. Now aluminum fell today, the shipper of price rised, enhance the middlemen buy goods and downstream demand, market transaction is active.

news both at home and abroad:

1, according to announced on May 10th, aluminum corporation of China ( Chalco) President AoHong said on Tuesday that the company is no restart two smelters shut down last year plan, the two smelting capacity of about 50 - 600000 tons. Company not closed or new capacity plans this year.

2, excess production capacity, and the problem of high cost in past prices continue downward. LME spot prices dropped by 2011 high $2802 per ton, to about $1600 level. However, aluminum industry, said one of the leading Russian aluminum in North America, Europe and Asian demand grows, is expected in 2016 the overall aluminium demand to 5. 7% or 3 million tons level rise, the global aluminium supply decrease, especially the Chinese market tightening, should support the LME prices stabilized.
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