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August 1 aluminum market morning review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Aluminum market morning comment: On Friday, the external aluminum price first fell and then rose, the dollar index weakened and the supply tightened to support aluminum prices
.
LME three-month aluminum prices rose 0.
71% to $2482.
5/mt
.
Shanghai aluminum night trading gap low opened low after rebounding, basically facing the price unfavorable
.
The main 2209 contract closed slightly below 18695 yuan / ton
.

Aluminum City

In the morning spot market, trading was still relatively flat, and holders actively dumped goods, but the willingness to replenish downstream was weak, and middlemen mainly purchased at low prices
.
The mainstream trading price in Shanghai is around 18,610 yuan / ton, which is about 20 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 18550 yuan / ton
.

At present, when domestic off-season consumption is sluggish and output continues to rise, explicit inventories show signs of
stabilizing the warehouse.
Recently, the macro situation has left the void for the time being, leading the price rebound
.
At present, the overseas supply side is tight, overseas production cuts have led to a decline in supply, and explicit inventories continue to hit new lows, giving strong support
to the price of external aluminum.
However, in the case of weak domestic fundamentals, the price rebound lacks sustained momentum, and the price center of gravity is still likely
to fall in the medium term when production continues to rise.
In terms of operation, it is not recommended to chase long in the short term, and the medium-term high and short operation is the mainstay
.

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