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Daily review: aluminum prices upward momentum market light volume

by:Deyuan      2020-12-23
International markets are: good U. S. economic data prediction, the dollar index vibration strong drag on the fund's lines, aluminum pressure drop, and today support on below $1500. Beijing time justice, LME3 three-month aluminium 1552. At $5 a day fell $5.

( ) Domestic market: today Shanghai aluminum 1607 contracts opened 12325 yuan, main month low intraday high of 12370 yuan, 12225 yuan, close to 12260 in late, than the previous trading day up 5 yuan/ton. RMB accelerated depreciation hard, strong outside weak pattern inside base metals, today Shanghai aluminum shocks up $5, aluminum prices upward momentum, the market outlook is expected to maintain a sideways.

the spot market: today's spot price is 12710 - 12750 yuan/ton, up 30 yuan/ton; Guangdong south store at 12760 - 12860 yuan/ton, down 20 yuan/ton; China reported 12820 - 12840 yuan/ton, up 30 yuan/ton; Stock clinch a deal the average price in 12690 - at home 12730 yuan/ton. Today is aluminum rose slightly, the grocers higher positive shipment, intermediaries and downstream will pick up the goods is not high, with lighter volume.

news both at home and abroad:

1, the data show that Australia alumina price break for four months, falling in the past two weeks 8 dollars/tons, forecast in 255 a tonne on Tuesday. Fob $50 ( FOB) Western Australia. Alumina prices have been rising during January to early May 64. 50 dollars/tons, because China and America due to poor profits cuts in alumina production. Meanwhile, India and Malaysia, expand the alumina import to support domestic aluminum production.

2, it is reported that recently have sit in Malaysia government officials said that if there is no conform to the requirements of lifting the ban, bauxite ban may be extended for a third time. Related conditions including bauxite transport comply with the new standardized operating procedures, using government approved certification truck and transportation route and location of bauxite inventory management methods, etc.
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