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Market wire in Nanhai metal scraps market in the morning
2019-12-27
Dec 27 (LTIT) –Due to factors such as tight annual balance of funds, the profit of SHFE aluminum continued to fluctuate lower. In recent days, the volatility of the spot market has led to chaos in the operations of spot traders and factory enterprises. Most of them wait and see after making profits, fearing that the spot market will eventually fall back with the big market. There are only a few days until 2020, and some factories and enterprises have entered the finishing stage. It is estimated that all factories and enterprises will basically enter the annual leave cycle in the middle of January next year. Whether the preparation of materials will help push forward the year before depends on the price trend. At present, the national social low stock level is maintained at about 580,000 tons, but the hidden stock level is more difficult to predict, and short-term aluminum prices are expected to have a small part of falling space under the pressure of annual settlement.
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