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[selection of SMM Weekly report] there are still repeated possibilities under the background of the current structure and inventory of aluminum high decline period.
Sep 26,2020 12:44CST
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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 main 2011 contract this week (09.21-09.25) high decline, early week continued last week interval shock posture, high stop at 14515 yuan / ton, and then a few days release volume recorded three long Yin line, fell through all moving averages, low hit 13510 yuan / ton, refresh since the beginning of July low, Friday low rebounded to 13940 yuan / ton. Lomalco recorded five consecutive negative streaks this week, falling to a low of $1726 a tonne on Thursday, the lowest level since early August.

At present, inventory is still relatively low, and the performance continues to go to the warehouse, but the forward pressure on the supply side and the evidence of the prosperous season of consumption may drag down the upward pace of aluminum prices. 2011 of the main contracts are expected to focus on 13700-14200 yuan / ton next Wednesday. Fundamentals continue to pay attention to spot demand and inventory changes, aluminum prices are not expected to fall smoothly under the current structure and inventory conditions, and there are still repeated possibilities in the future. Spot rising water, due to the relatively high price of the holder and the recent demand downstream, is expected to focus on rising water 260-320 yuan / ton next Wednesday.

 

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

Main points of this issue's weekly report

In August, China's imports of unwrought aluminum and aluminum products increased more than seven times compared with the same period last year.

two。 Return to calm after small-scale transactions overseas prices continue to fall

3. Downstream reserve overlay ticket demand Guangdong aluminum base difference hit a new high of the year

4. The base price has plummeted, the processing fee has soared, and the supply of small sticks has fallen short of demand.

5. The price of aluminum plunges and does not change the shortage of waste aluminum. In fact, the price of waste aluminum remains strong.

6. The rising trend of metal silicon is flattening downstream purchasing on demand

7. Pre-baked anode: the rising trend of petroleum coke slowed down slightly, and the market of pre-baked anode improved as a whole.

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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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