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[SMM analysis] the aluminum price is now weak and Synchronize is weak. Downstream procurement has a strong wait-and-see mood.
Jan 13,2021 14:19CST
translation
Source:SMM
[SMM analysis: aluminum price now Synchronize weakens downstream purchase wait-and-see mood is strong] Today, Shanghai aluminum futures continued to open low, leading the non-ferrous metals market lower in intraday trading. Spot price Synchronize downward, today's SMMA00 quotation at 14880 14920 yuan / ton, the average price is down 150 yuan / ton from the previous month. Spot market traders mainly buy on demand, market sentiment in some areas has weakened, the overall wait-and-see atmosphere is strong.
The content below was translated by Tencent automatically for reference.

SMM1 March 13 News: today, Shanghai aluminum futures continue to open low, intraday continues to lead the decline in the non-ferrous metals market. Spot price Synchronize downward, today's SMMA00 quotation at 14880 14920 yuan / ton, the average price is down 150 yuan / ton from the previous month.

SMM in the previous article "[SMM analysis] Shanghai aluminum decline narrowed down difficult to stop the center of gravity shock down before the Spring Festival," said that due to the macro aspect, the recent epidemic and other factors affected part of the weakening of demand. The supply side of the fundamentals rises slowly, the consumption performance falls seasonally, and the industry enters the accumulation cycle. In addition, electricity and gas restrictions, enterprises are facing the impact of the Spring Festival holiday and other factors, the downstream demand side is gradually weakening, the price center of gravity is expected to shake down before the Spring Festival.

Near the end of the New year, the start-up of aluminum profile enterprises in the northern market in January has been weakened to varying degrees. SMM focused on the holiday situation of profile enterprises in the northern region, and most enterprises said they would have a holiday at the end of January.

[SMM investigation] the weak start-up of small and medium-sized aluminum profile enterprises in North China in January is basically a holiday before February.

"Click to view the historical price trend of SMM Metals.

In the spot market, the trading sentiment in the South China market before noon has been reversed due to the sharp fall in prices. Today, SMM A00 aluminum (Foshan) is quoted at 14820 yuan per ton, which is 80 yuan lower than SMM A00 East China aluminum price. The selling price for Shanghai aluminum 2101 contract is-80 yuan / ton at 10:15. As the spot turns to a discount every other month, the mood of receiving goods in the market is gradually rising, and the willingness of the holders to ship goods has converged, and the downstream is mainly purchasing on demand today.

Around 11:00 in the East China market, spot transactions were concentrated around 14840 yuan / ton in Wuxi, maintaining the pattern of flat water to a small discount in that month. Light disk situation, the spot transaction price range widened. On the whole, the supply of goods in the market is still relatively abundant, with downstream and middlemen mainly purchasing on demand.

Gongyi spot trading in the morning to the discount of 120 yuan / ton that month, with the disk adjustment, the actual transaction price as low as 14730 yuan / ton, although the disk price rebounded after 10:00, but the mood in the lower reaches of Gongyi has weakened, and the overall wait-and-see atmosphere is stronger.

SMM A00 spot Aluminium Ingot lift discount and National Social Aluminium Ingot inventory trend

Aluminum price
market
Shanghai aluminum
aluminum ingot

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