News

Aluminium in Shanghai fell to a record low below 10,040

  • Categories:Industry Info
  • Author:
  • Origin:
  • Time of issue:2018-05-16
  • Views:105

(Summary description)November 11 morning news, this morning Shanghai aluminum once again hit a historic low, the lowest intraday fell to 10050. Yesterday night Shanghai aluminum main contract intraday fell to 10030, under the 10-year low of 10040, a record low since the listing of the contract. Experts said that aluminum supply is difficult to change the pattern of excess, Shanghai aluminum is expected to remain the same downward trend.

Aluminium in Shanghai fell to a record low below 10,040

(Summary description)November 11 morning news, this morning Shanghai aluminum once again hit a historic low, the lowest intraday fell to 10050. Yesterday night Shanghai aluminum main contract intraday fell to 10030, under the 10-year low of 10040, a record low since the listing of the contract. Experts said that aluminum supply is difficult to change the pattern of excess, Shanghai aluminum is expected to remain the same downward trend.

  • Categories:Industry Info
  • Author:
  • Origin:
  • Time of issue:2018-05-16
  • Views:105
Information

November 11 morning news, this morning Shanghai aluminum once again hit a historic low, the lowest intraday fell to 10050. Yesterday night Shanghai aluminum main contract intraday fell to 10030, under the 10-year low of 10040, a record low since the listing of the contract. Experts said that aluminum supply is difficult to change the pattern of excess, Shanghai aluminum is expected to remain the same downward trend.

 

Aluminum supply is difficult to change the pattern of surplus Shanghai aluminum downward trend unchanged

 

Liu Meili, an analyst with Business Society, believes that the slight rebound in aluminum prices at the end of October and early November is directly related to production cuts by producers. However, the current pattern of aluminum supply is still oversupplied, which cannot be reversed in the short term. Moreover, aluminum consumption growth cannot be continuously and effectively boosted, and aluminum prices will further decline with the decline of costs. Liu Xintian, secretary general of China Bulk Commodity Development and Research Center, believes that the current market is not confident enough, and it is expected that the main aluminum futures contract in November will break the 10,000 yuan mark.

 

British futures analysts said that the Fed rate hike expectations, the dollar index high volatility, metal prices remain under pressure. Aluminium futures fell sharply yesterday, weighed down by weak macro data and news of continued export duties on primary aluminium. Domestic commodity overcapacity, deflation is worsening, the fundamentals of the aluminum market is still weak, Shanghai aluminum is expected to remain the same downward trend, short term to maintain weak shock trend.

Scan the QR code to read on your phone

返回
广西柳州银海铝业
全国服务热线

Service hotline:

0772-3511420

搜索
确认
取消
Language
这是描述信息
银海铝

Quick navigation

Company profile    |    News    |    Product    |    Sales and service    |    Business information    |    Technical equipment    |    Human resources    |    Technology research and development    |    Contact us    |    Complaint reporting

Contact us
Address: No.11, Yangtai Road, Yanghe Industrial New District, Yufeng District, Liuzhou, Guangxi Zhuang Autonomous Region
Email:
liulvgm@alzco.com.cn 
Tel: 0772-3511420
Fax: 0772-3166032

 

Guangxi Liuzhou Yinhai Aluminum Co., Ltd    桂ICP备15007883号 BY:300.CN

Guangxi Liuzhou Yinhai Aluminum Co., Ltd    桂ICP备15007883号 BY:300.CN