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April 7 aluminum market morning review

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

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ohio valley aluminum

short term energy

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Aluminum market morning comment: The minutes of the Midland meeting released a strong hawkish signal, the dollar index strengthened for several days, and the overnight aluminum price fell back overnight, and the three-month aluminum price on the London Stock Exchange fell 0.
68% to $3431.
5 / ton
.
Affected by the domestic epidemic, the Shanghai aluminum night market continued to decline
.
The main 2205 contract closed below 22190 yuan / ton
.

Aluminum City

The overall transaction of the spot market in the morning was not good, and the transaction volume in the South China market was significantly better than that in East
China.
The epidemic caused the interruption of Wuxi and Shanghai outbound and affected spot trading, and the mainstream transaction price in Shanghai was 22430 yuan / ton, which was about
80% discount to futures.
The mainstream transaction price in Guangdong is around 22490 yuan / ton
.

At present, domestic consumption is suppressed by the epidemic, and output is accelerating with the acceleration of production resumption, resulting in peak season storage
.
Overseas supply concerns have eased and the drive on prices has weakened
.
Short-term bearish factors are strong, and domestic aluminum prices are weak.

However, optimistic expectations for consumption remain, and stimulus expectations are strong
.
Overseas supply-side uncertainty remains
.
Operationally, it is recommended to wait and see for
the time being.

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