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Daily review: weak economic data have been mixed aluminum pressure rebound

by:Deyuan      2020-12-23
International markets are: the initial jobless claims last week better than expected, market interest rates expected to heat up, today's aluminum fell slightly, support on below $1500. Beijing time crush, LME3 three-month aluminum $1586, the last trading day down $7.

( ) Domestic market: today Shanghai aluminum 1611 contracts opened 11960 yuan, main month low intraday high of 12100 yuan, 11960 yuan, close to 12050 in late, than the previous trading day up 65 yuan/ton. China's economic data were mixed, non-ferrous remain volatile, Shanghai aluminum slightly higher today, aluminum market outlook is expected to continue to shock pattern, recommends that investors continue to wait and see.

the spot market: today's spot price is 12650 - 12690 yuan/ton, up 70 yuan/ton; Guangdong south store at 12570 - 12670 yuan/ton, up 70 yuan/ton; China reported 12760 - 12780 yuan/ton, up 70 yuan/ton; Stock clinch a deal the average price in 12650 - at home 12690 yuan/ton. Today is aluminum rose slightly, the shipper of shipment, but downstream keep on-demand procurement, with lighter volume.

news both at home and abroad:

1, Tokyo on September 8th news, two sources directly involved in the quarterly pricing negotiations said on Thursday that some Japanese buyers have agreed to the fourth quarter finalised for $75 per ton aluminum premium, reflect the influence of physical litre fall. The level is in the third quarter of 90 - tonne Fell 17% to $93 19%, the aluminum premium for a second consecutive quarter of decline, and the lowest level in more than seven years.

2, the growth of the global aluminium are mainly concentrated in China, the electrolytic aluminium production in other areas of the world in the past basically stable at around 24 million tons. Dissolve the electrolytic aluminium excess capacity, which is beneficial to improve the bearing of the electrolytic aluminium industry, sustained and effective exit through the supply end, improve the aluminum industry supply and demand, support prices upward. ” Said the loss.
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