CCMN International Market Comment: LME aluminum gapped and fluctuated lower today. The LME was reported at $2,623/ton at 15:01 Beijing time for three months, down $11, or 0.44%, from the settlement price of the previous trading day.
Yangtze Aluminum Industry Net domestic market: Today, Shanghai Aluminum’s main month 2112 contract opened at 19310 yuan/ton, the highest intraday was 19350 yuan/ton, the lowest was 18635 yuan/ton, the settlement was 19450 yuan/ton, and it closed at 18705 yuan/ton in late trading. It fell 745 yuan, or 3.83%; the trading volume of Shanghai Aluminum’s main 2112 contract increased by 504,327 hands by 156,776 hands, and its open interest increased by 39,984 hands by 2,180,93 hands. Today, Shanghai Aluminum continues to fluctuate and weaken, domestic coal prices continue to fall, negative factors in the aluminum market are intertwined, aluminum ingot inventories have re-accumulated, and the industrial product atmosphere is pessimistic, and aluminum prices are under pressure.
CCMN spot market review: today’s Yangtze River spot transaction price was 18920-18960 yuan/ton, down 230 yuan; Guangdong Southern Reserve reported 19,060-19120 yuan/ton, down 190 yuan; China Bulletin was 18970-19010 yuan/ton, down 250 yuan. Holders generally delivered goods at high prices, while receivers stocked a small amount of goods, and trading activity became weaker. The overall transaction volume was better than yesterday.
[Reprinted need to keep the source-Changjiang Nonferrous Network]
【Title】Yangtze River Nonferrous Metals: Aluminum prices continue to fall sharply on the 16th, overall trading volume is better than yesterday
From www.ccmn.cn
Post time: Nov-17-2021