The Reason for the aluminum price risen in Dec 2022

As we can see ,the aluminum ingot price has risen much since Dec,not only for the LME ,but also for the SHEF  ,Accordingly ,the All aluminium sheets, foil, aluminium coil and aluminium circle  sell price risen at the same time . 

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On Monday, December 5, both LME aluminium cash bid price and LME aluminium official settlement price expanded by US$36.5 per tonne or 1.49 per cent to settle at US$2,484.50 per tonne and US$2,485 per tonne.

3-month bid price and 3-month offer price settled at US$2,515 per tonne and US$2,517 per tonne after recording a growth of US$38 per tonne or 1.53 per cent.

December 23 bid price and December 23 offer price gained US$37 per tonne or 1.45 per cent to clock at US$2,577 per tonne and US$2,582 per tonne.

LME aluminium opening stock scored at 495550 tonnes. Live warrants and Cancelled warrants came in at 226350 tonnes and 269200 tonnes.

SHFE aluminium price 

On Tuesday, December 6, the SHFE benchmark aluminium price lost US$35 per tonne or 1.25 per cent to stop at US$2,764 per tonne.

The most-traded SHFE 2301 aluminium closed up 0.73 per cent or RMB 140 per tonne at RMB 19,320 per tonne, with open interest up 668 lots to 227,521 lots

The most-traded SHFE 2301 aluminium contract opened at RMB 19,200 per tonne overnight and rose to RMB 19,335 per tonne before closing at RMB 19,240 per tonne, down RMB 30 per tonne or 0.16 per cent

For the LME : In accordance with our source, The European Union's politically independent executive arm, the European Commission, is planning to bring a proposal for a ban on new investments in Russia's mining sector as part of a new package of sanctions for the Russia-Ukraine geopolitical crisis.

The prohibition on mining investment, which will have exceptions for certain products, is part of a ninth EU sanctions package that officials will discuss with member states next week and aim to reach an agreement on.

For the SHFE :The market on the pace of interest rate hike is still maintained expectations, but the target rate of interest rate hike remains uncertain, the US dollar index slightly up. And domestic, the recent real estate stimulus policy continued to increase, epidemic prevention "new ten" further relaxed,all increase the demand for the consumption and production

So if you have any demand and prepare for the new order in the new year ,please feel free to contact us any time ,we will feedback to you within 24 hours .

Professional make perfect ,Let us do more together !

Mr Aloys

The Export Manager 

Whatsapp:0086 150 2440 2133 

Zhejiang New Aluminium Technology Co.,Ltd 

www.newalutech.com


Post time: Dec-07-2022