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[SMM Weekly selection] Aluminum prices are intertwined with long and short factors and pay attention to the circulation of the spot market and pre-festival stock next week.
Sep 19,2020 10:49CST
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Source:SMM
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:

 

Shanghai Aluminum's main 2010 contract fluctuated upwards this week, recording a long positive line on Monday to recover the decline in the first four days, and then tested the upper resistance level in the next few days, reaching a high of 14675 yuan / ton on Friday, but continued to rise weakly. Lun Aluminum maintained a range of fluctuations this week, with the price difference between high and low only within $15 / ton.

In terms of internal trading, the trend of aluminum prices this week is tangled, and the room for going up and down is relatively limited. Short-sellers still come from the pressure of new electrolytic aluminum production capacity in southwest and northern regions, and the 1.08 million tons of production capacity of Yunnan Hongtai Phase I, which the market focused on this week, began to be put into production. The long-term supply pressure remains. In addition, the "Golden Nine Silver Ten" that traders are concerned about is not expected to show this week, and the situation that may be short in the future drags down the upward pace of aluminum prices as a hidden worry in the market. Bullish factors in addition to the consumer side can exist in the peak season support, inventory continued to fall to around 740000 tons this week also gives some traders confidence, long and short factors intertwined, operating logic contradictions, aluminum price operation performance hovering trend, is expected next week (09.21-09.25) concentrated in 14300-14800 yuan / ton, pay attention to next week's spot market circulation and stock enthusiasm before the next week. Rising and sticking on the water, taking into account the recent active shipments of consignors, and the gradual replenishment downstream, is expected to be between 80-140 yuan / ton next week, the decline is limited, maintain strong.

 

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

Main points of this issue's weekly report

1.Q4 the import of waste aluminum is reduced by 40% compared with the previous month. Domestic waste aluminum supply is still in short supply.

two。 Alumina domestic trade inquiries increased overseas prices rebounded slightly

3. The rising water of Guangdong aluminum ingots continues to rise, and the price gap between Guangdong and Shanghai will widen by 100 yuan.

4. The base price rises sharply and the demand generally falls under pressure from the processing fee of aluminum bars.

5. Low inventory suffers from import approval to reduce the price of scrap aluminum continues to strengthen

6. Worries about shortage of scrap aluminum aggravate domestic ADC12 prices continue to push up

7. The supply of oxygenated low-grade silicon is tight, and the price of silicon in the downstream stock replenishment is on the high side.

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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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