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Review: Chinese poor data concern aluminium pressure fell sharply

by:Deyuan      2020-12-23
International market: China's inflation data slightly slow market panic, today's aluminum rose slightly, but fund belongs to the future continue to weaken the possibility is very large, short-term focus on 1500 - support 1600 dollars. Beijing time is blessed, LME3 three-month aluminum $1563, a rise of 2 in the last trading day. Five dollars.

( ) Domestic market: today Shanghai aluminum 1607 contracts opened 12080 yuan, main month low intraday high of 12080 yuan, 11770 yuan, in late 11910, the previous trading day down 305 yuan/ton. China import and export data that sparked fears were down in April, today Shanghai aluminum fell sharply, market position significantly reduced, but some short capital profits help prices back to the low smoke, the investor sentiment is more cautious, maintain a wait-and-see.

the spot market: today's spot price is 11970 - 12010 yuan/ton, down 390 yuan/ton. Guangdong south store at 12170 - 12270 yuan/ton, down 320 yuan/ton. China reported 12080 - 12100 yuan/ton, down 390 yuan/ton. Stock clinch a deal the average price in 11970 - at home 12010 yuan/ton. Today is aluminum fell sharply, the shipper's price to sell, the dealer and the downstream will actively goods, clinch a deal the overall active.

news both at home and abroad:

1, the excess 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 up.

2, an electric on May 10, according to the news, the Russian aluminium executives said on Tuesday that China is expected to aluminum consumption growth of 7% this year. China since July 2015 closed about 4 million tons of aluminum production capacity. Russian aluminum, said the global aluminum industry as a whole is faced with the problem of excess production capacity, due to slowing demand, aluminium industry need to adjust the strategy.
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