China securities news reported: on April 19, under outside dish rising Shanghai aluminum since early rising, on April 18, 1806 main contract rose to 14965 yuan/tons, to 14930 yuan/ton, monthly cumulative rose 8%.Analysts analyzed that the short-term Shanghai aluminum or will continue to follow the external trend, but because the domestic supply and demand fundamentals do not support the continuous rise of aluminum prices, the late correction risk increases.
Shanghai-aluminium followed the foreign dish up.
US sanctions on rusal have caused an instant change in the supply and demand side of the world's aluminium market.At present, aluminium from Russia is in the stock of aluminium, accounting for more than a third of the world's warehouses responsible for monitoring delivery on the London metal exchange, or about 450,000 tonnes.Eoin Dinsmore, head of CRU's aluminium business, predicts that a quarter of the world's aluminium stocks, or almost 1m tonnes, will be produced by rusal in addition to China and the LME.Add these figures together, and Russian aluminum from Rotterdam to New Orleans is worth more than $3 billion.
The world's aluminium market will face a supply shortage as a result of U.S. sanctions against Russia and a reduction in Hydro production in Brazil, the chief executive of Norway's Hydro company said on Monday.
The impact of the sanctions on rusal continued to drive up aluminum. Last week, it rose by $221.5, or 10.78 percent, to its biggest weekly gain in history.On April 18, it hit a six-year high of $2,460 a tonne.As a result of the foreign trade, the Shanghai aluminum market continued to rise recently. Yesterday, the 1806 contract was high, and it closed at 14930 yuan per ton, up 70 yuan, with a holding capacity of 33.87 million.Last week, the main force of Shanghai aluminum was up 570 yuan, and the weekly line increased by 4.07%.
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