February 11
Overnight Shanghai aluminum main force opened at 23300 yuan / ton, the highest touched 23365 yuan / ton, the lowest 22985 yuan / ton, and finally closed at 23135 yuan / ton, down 105 yuan / ton compared with yesterday’s end, down 0.45%, ending eight consecutive positive. On Thursday, aluminum opened at $3,263/ton, the lowest $3,234/ton, the highest touched $3,333/ton. The final close at $3238/ton, down $25/ton, or 0.77%.
Yesterday SMM statistics domestic electrolytic aluminum social inventory of 950,000 tons, compared to this Monday’s accumulation of 84,000 tons, overseas LME aluminum inventory increased 119,025 tons to 880,975 tons, a daily increase of 16%, the largest increase since March last year, resulting in a small decline in domestic and foreign markets. However, the overseas energy crisis is still continuing, the domestic electrolytic aluminum capacity recovery is slow, there is still support for aluminum prices. Consumption side, domestic will usher in seasonal demand rebound, the market is more bullish on post-holiday consumption. Overall, SMM expects electrolytic aluminum prices will maintain a high level of oscillation.
Yesterday SMM statistics domestic electrolytic aluminum social inventory of 950,000 tons, compared to this Monday’s accumulation of 84,000 tons, overseas LME aluminum inventory increased 119,025 tons to 880,975 tons, a daily increase of 16%, the largest increase since March last year, resulting in a small decline in domestic and foreign markets. However, the overseas energy crisis is still continuing, the domestic electrolytic aluminum capacity recovery is slow, there is still support for aluminum prices. Consumption side, domestic will usher in seasonal demand rebound, the market is more bullish on post-holiday consumption. Overall, SMM expects electrolytic aluminum prices will maintain a high level of oscillation.
Customers who need aluminum tubes and aluminum profiles should place orders as soon as possible, as aluminum prices may continue to rise in the future.
Post time: Feb-11-2022