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[selected SMM Weekly report] Aluminum prices are consolidated at 14500 yuan / ton. Domestic scrap aluminum prices are stable.
Jul 25,2020 11:44CST
The content below was translated by Tencent automatically for reference.

"SMM aluminum industry chain weekly report" released, the weekly report SMM will select one of the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The following is an excerpt from the weekly report of SMM aluminum industry chain:

The main 2008 contract price of Shanghai Aluminum has a strong upward trend during the week (07.20,07.24), hitting a high near 14480 yuan / ton on Thursday, and has fallen somewhat near the weekend, so far the position has been reduced for three consecutive weeks. Lunalco concussion rose this week, above 1700 US dollars / ton still-fixed resistance, the week's high stopped at 1709 US dollars / ton.

According to macro news, the number of confirmed cases abroad continues to increase this week. As of the 23rd, the number of confirmed cases worldwide exceeded 15.26 million, and the death toll exceeded 600000. However, while the number continues to rise, economic stimulus measures in various countries are still being introduced one after another, and some data from the United States, Canada and Europe and other countries are beginning to show a pick-up. In addition, tensions in Sino-US relations have risen recently, as the United States forcibly closed the Chinese consulate in Houston, China took countermeasures to crack down on the US consulate in Sichuan, and diplomatic friction led to a sharp devaluation of the RMB, while the dollar index continued to hit a new low. In addition, in the context of the high Shanghai-Lun ratio, China's imports of foreign aluminum and aluminum products increased significantly in June. Lun Aluminum is relatively strong this week under the influence of comprehensive factors, but the continued upward momentum is still insufficient. It is expected to continue to test the size of the upper space next week, or run between 1650-1720 US dollars / ton, it is necessary to guard against the impact of Sino-US diplomatic relations on the macro trading atmosphere.

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Catalogue of "SMM Aluminum Industry chain Weekly report" in this issue

Main points of this issue's weekly report

1. Four pictures to understand the balance of supply and demand of overseas alumina (2010-2020)

two。 The quotation of alumina in the north region fell slightly and the price in the southwest region was strong.

3. Spot rising water in Guangdong falls sharply and aluminum prices in Guangdong and Shanghai continue to hang upside down.

4. Under the influence of the off-season, the market trading is weak under the small adjustment of the processing fee range.

5. The price of aluminum is consolidated at 14500 yuan / ton. The price of waste aluminum in China is stable.

6. Domestic ADC12 price stable import aluminum alloy ingot transaction price stalemate

7. Silicon metal rises slowly and continues to be strong in short-term prices.

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The contents of "SMM China Aluminum Industry chain High-end report" include: macro hot spots, alumina, electrolytic aluminum, aluminum, waste aluminum, aluminum accessories, aluminum, waste aluminum pre-baked anode analysis, the scope to accommodate the spot market, futures, inventory market performance and aluminum processing start-up rate research, and pay attention to real-time LME, SHFE and SMM prices. "View details

The "SMM China Aluminum Industry chain routine report" includes: macro hot spots, alumina, electrolytic aluminum, aluminum, waste aluminum, pre-baked anode analysis, spot market, futures, inventory performance and other changes and related news, and focuses on real-time LME, SHFE and SMM price trends. "View details

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