SunSirs: Aluminum Price Moved Down Slightly on November 30
December 01 2022 13:50:46 SunSirs (John)
Aluminum price moved down slightly on the 30th
According to the data of SunSirs, the average price of domestic aluminum ingots in the East China market on November 30 was 18,983.33 RMB/ton, down 1.5% from the price of 19,273.33 RMB/ton on November 18. However, according to the monthly data, the price was 5.13% higher than the price at the beginning of the month.
In the long term, the current price was 8.79% higher than the average price of 17,450 RMB/ton in the aluminum ingot market at the starting point of recent recovery (July 14, 2022).
Factors of aluminum price falling slightly at the end of the month
1. Early increase Overdraft macro positive
On the one hand, the aluminum price in November was boosted by the positive release of real estate policies in the terminal market, on the other hand, the pace of interest rate increase in the United States slowed down, the US dollar index fell back from a high level, and the nonferrous metal sector recovered as a whole.
2. Weakening of fundamental demand support
As of the 30th, the supply and demand were relatively stable, and the low inventory had a certain support for aluminum prices.
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