Boosted by the news of 10 billion national debt, Shanghai aluminum reb

Published: Oct 26, 2023 09:26

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Boosted by the news of 10 billion national debt, Shanghai aluminum rebounded yesterday, but the overnight high opening fell back, and the favorable driving force was insufficient. Lun aluminum followed the rebound and the amplitude of the rise was obviously reduced. In terms of spot, according to the data of Steel Union, the aluminum ingot inventory decreased by 0.3 million tons to 587,000 tons, and the aluminum bar inventory decreased by 0.7 million tons to 130,000 tons, and the inventory trend was not obvious. Affected by the explosion of aluminum bar factory in Guangxi, the local aluminum factory's casting volume will be increased in the short term, increasing the pressure of arrival in South China. Pay attention to the inventory situation. Yesterday, the spot premium fell again. A00 aluminum ingot was 19,090 yuan/ton, flat water at the plate (-50), showing a weak mood. As for the future trend, there is no obvious supply and demand contradiction in the short term. The water storage of Yunnan Reservoir has reached the highest level this year, and the import window is still open. The loose supply pattern is expected to remain. From the recent inventory performance, the demand side can still bear such a high supply. The supply and demand remain balanced, and the plate is expected to be volatile. It is for reference only.

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