On the 28th, aluminum may fall
Today's aluminum market summary: epidemic-related restrictions have hit the demand outlook. Shanghai aluminum closed down 145 yuan on Friday evening. China's environmental protection production restrictions continued to restrict consumption. The northern weather affected the downstream operating rate. It is expected that the current aluminum will fall today.
Futures market: The London Metal Exchange (LME) will be closed on December 25 and December 28 (Boxing Day) during the Christmas holidays. There is no data update. The epidemic-related restrictions have hit the demand outlook. Oil prices fell for the first week since October. Shanghai Aluminum fluctuated and weakened on Friday night. The latest closing price of the main month 2101 contract was 15,780 yuan/ton, down 145 yuan, or 0.91%.
The London Metal Exchange (LME) December 24th, LME's latest aluminum inventory was reported at 1,372,350 metric tons, a decrease of 5750 metric tons or 0.42% from the previous trading day.
On December 25, the domestic spot aluminum price rose slightly, the price of AOO aluminum ingots reported 16,310 yuan/ton, an increase of 40 yuan; the price of AOO aluminum ingots of Chinalco East China reported 16,310 yuan/ton, an increase of 30 yuan. The impact of China's environmental protection production and electricity restrictions on processing companies is still fermenting, continuing to restrict consumption. The northern weather has affected the downstream operating rate to decline, and it is expected that the spot aluminum price will fall today.
