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Daily review: short-term market sentiment on aluminium afternoon upward

by:Deyuan      2020-12-23
International market: the double weak manufacturing services, the dollar index under pressure cast metal at high empty, today's aluminum benefit rise, support on above $1600. 'Beijing time, LME3 three-month aluminum $1557, a rise of $14 in the last trading day.

( ) Domestic market: today Shanghai aluminum 1607 contracts opened 12095 yuan, main month low intraday high of 12195 yuan, 11900 yuan, in late 12185, the previous trading day up 40 yuan/ton. Early rising prices to market expectations of electrolytic aluminium production restarts, short-term market sentiment would like, today Shanghai aluminum rose slightly, but lack the support of good news afternoon aluminium upside or co. , LTD.

the spot market: today's spot price is 12250 - 12290 yuan/ton, down 80 yuan/ton. Guangdong south store at 12370 - 12470 yuan/ton, down 50 yuan/ton; China reported 12360 - 12380 yuan/ton, down 80 yuan/ton. Stock clinch a deal the average price in 12220 - at home 12260 yuan/ton. Now aluminum fell again today, the shipper of ship dynamics stability, downstream will fall goods, clinch a deal the general market.

news both at home and abroad:

1, customs data showed that in April China import alumina 10. Slightly increased 7 260000 tons, compared with last year. 49%, and dropped sharply from 71. 5% month-on-month imports significantly reduce 25. 720000 tons. Alumina imports in April, Australia alumina accounted for by last month's 42. 6% up to 95. 1%, last month's place in the imports of India, Vietnam and Brazil's alumina imports fell sharply in April below one thousand tons, accounting for less than 1% of total imports.

2, in the past 16 years, China's electrolytic aluminium production capacity continues to rapidly increase, lead to China's electrolytic aluminium relative surplus. Have been slow in the past China's electrolytic aluminium production capacity shut down, and 2015 aluminum capacity closures of 3. 8 million tons, the wave closure suggests that innovation is the supply side, this part of the production capacity will be much more slowly.
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