[SMM Weekly selection] this week's aluminum price range concussion gold nine silver ten "peak season effect" remains to be verified

Published: Sep 12, 2020 10:18

"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:

Shanghai aluminum main 2010 contract this week (09.07-09.11) range shock, the trend is tangled, at the beginning of the week by a positive line to explore 14655 yuan / ton, the center of gravity fell back in the next few days, Lun aluminum center of gravity fell day by day, low to 1766.5 US dollars / ton, near Friday rebounded slightly, but weak strength did not recover all the previous decline.

Shanghai aluminum in the inner market, in addition to the impact of macro sentiment, aluminum prices this week still face the impact of consumer-side and inventory-side uncertainties. "Golden Nine Silver Ten" peak season still has no obvious signs, or false certificates may be, while the inventory end is still in a state of slight accumulation, and the recent new production capacity on the supply side exerts obvious pressure on market expectations, so it is difficult for aluminum prices to make an upward breakthrough. in terms of next week (09.14,09.18), we need to continue to pay attention to the warming of the consumer side and the extent of inventory accumulation, and it is expected that next week's main 2010 contract will run between 14100 and 14600 yuan / ton. On the water, the spot circulation is abundant this week, but the inventory is still relatively low, and the consumer end of the second half of September is more likely to be better than the first half of September. It is expected that the spot will be around 20 yuan / ton before delivery and between 80 yuan / ton and 150 yuan / ton after delivery.

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

Main points of this issue's weekly report

1. slow increase in demand downstream of aluminum in the quarter cars replace real estate as a bright spot of demand growth

two。 The price of overseas transactions for bottom-buying in electrolytic aluminum plants has gone up and down.

3. In the run-up to delivery, there will be a sharp pullback in the return to Guangdong spot Shishui.

4. The enthusiasm for receiving goods downstream is not high. The processing fee has dropped by more than 100 yuan.

5. Cherish the bullish mood of selling and increase the willingness of waste aluminum recyclers to raise prices.

6. Both supply and demand are good for ADC12 prices to enter the upward channel.

7. The price of metallurgical grade silicon increases and the monthly price of chemical grade silicon is agreed.

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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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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[SMM Weekly selection] this week's aluminum price range concussion gold nine silver ten "peak season effect" remains to be verified - Shanghai Metals Market (SMM)