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Shanghai aluminum weak reality strong expectations
- China Aluminium Network
- Post Time: 2022/12/9
- Click Amount: 639
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【Aluminum Road Network】
News on December 7; Since December, the non-ferrous metal sector has been supported by macro sentiment restoration and favorable domestic real estate policies. The overall price has shown an upward trend, and Shanghai Aluminum has also emerged from a relatively strong market. In addition, as the end of the year is approaching, companies are warming up their enthusiasm for stocking up for the Spring Festival, which may help aluminum prices maintain a strong oscillating trend in the short term.
The current macro pressure is easing. In the early hours of December 1, Federal Reserve Chairman Powell said that the Fed has raised interest rates rapidly, and these measures will take time to have an impact on the economy, so it will be feasible to slow down the rate hike, and the timing for slowing down the pace of rate hikes may be at the earliest Coming up at the December meeting. Although there are no bright spots in the fundamentals, the production capacity on the supply side continues to increase, and the demand side maintains the characteristics of off-season, but the real estate and epidemic prevention policies have greatly improved market expectations, which has boosted aluminum prices under the background of weak reality and strong expectations.
Supply-side production capacity continues to rise
On the one hand, there is no major production reduction news on the supply side. Previously, about 100,000 tons of production capacity in Henan was reduced due to factors such as costs and the epidemic, and the implementation has now been completed; Shandong, Henan and other places have reduced production capacity by about 100,000 tons due to northern heating and environmental protection issues. , is being gradually implemented; the Yunnan area is basically stable at a state of 20% load reduction. On the other hand, Sichuan, Guangxi, which had previously reduced production, and Inner Mongolia, which was newly put into production, are still in a state of slow production resumption. From a regional perspective, the resumption of production in Sichuan has not yet exceeded 50%, and it will be difficult to recover in the short term due to the impact of the dry season, which may contribute to the increase in production capacity in 2023; stimulated by the release of relevant documents in Guangxi, electrolytic aluminum companies have started Source:
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