Nandu Futures: LME closed higher, Shanghai aluminum rose weaker

Last night, LME March opened at 1,937 US dollars, closing up 1956.5 US dollars, increased 4795 hand positions, inventory continues to decrease. Obviously, the strong demand of the aluminum market is evident. Although the Shanghai aluminum market is still on the rise today, the gains have weakened and the market has returned to rationality.

According to an October 12 report from the foreign ministry, Aluminum Corp. of China Ltd. (2600.HK, Chalco) said on the 12th that the company will be affected by rising prices of imported alumina. (13th) began to increase the alumina spot sales price by 7.6%. China Aluminum is a large aluminum oxide producer in China. Aluminum Corporation of China stated that it will increase the domestic spot sales price of alumina from RMB 4,330 per ton to RMB 4,660. It can be seen that this three-day surge may be the market's excessively advanced response to this news. In general, the market has strong demand, but in the face of the current domestic supply level, Shanghai aluminum prices are unlikely to rise significantly.

Operational advice: Aluminium see more, Shanghai aluminum waiting time

Nandu Futures Lu Xiaohua