AAG

Minmetals futures: aluminum early on September 26th

by:AAG     2020-11-08


: aluminum industry, aluminum LME stocks last fall to 129. 480000 tons, and cash discount to maintain / 3 m to 21. 5 dollars/tons, although the Shanghai aluminum prices dropped sharply, the ultimate value but Shanghai is still in the 7. Around 7, show aluminum stock index is still weak. Domestically, SMM25 daily domestic social inventory by 0. 50000 tons to 165. 80000 tons, domestic stock range high, 3030 aluminium there is a wave of tired inventory during the National Day, 3030 aluminum backwardation pressure is low. The market at present is still waiting for peak production plan in shandong province reported, is expected to have boost on aluminium. Now entered the stage of the heating season hype in the heating season production do not overlap after becoming clear with violations, production capacity, with a strong Shanghai aluminum fundamentals. Other domestic alumina price is still in the stage of 3030 aluminum, aluminium smelting cost has risen from 3000 yuan/ton highs to less than 1000 yuan/ton. So prices are still rising space, many single continued to hold.
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