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April 1 aluminum market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market morning comment: the strengthening of the US dollar, the decline of crude oil and the continued spread of the epidemic in China to suppress consumption, overnight aluminum prices fell overnight, and the three-month aluminum price on the London Stock Exchange fell 2.
21% to 3468 US dollars / ton
.
The domestic night trading was volatile, and the main 2205 contract of Shanghai aluminum was slightly affected by more than 22740 yuan / ton
.

Aluminum City

The overall trading volume of the spot market in the morning further shrank, and the impact of the epidemic expanded
.
Downstream goods are scarce, and middlemen are happy
.
The mainstream trading price in Shanghai is around 22,620 yuan / ton, which is about 100 lower than the futures
.
The mainstream transaction price in Guangdong is around 22600 yuan / ton
.

At present, the domestic epidemic is spreading, and control measures have been tightened in many places, transportation has been further blocked, and the downstream operating rate has further declined
.
The shortage epidemic is obviously unfavorable to consumption, although transportation is blocked, but the production of aluminum plants has not been affected for the time being, because there is currently no epidemic
in the main production areas.
Overseas supply concerns have also slowed recently
, as progress has been made in the Russia-Ukraine negotiations.
Affected by the epidemic, the shortage of domestic aluminum prices has lost its upward drive, but consumption expectations after the epidemic are still optimistic, and overseas supply uncertainty still exists
.
Short-term recommendations are mainly
wait-and-see.

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