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Aluminum market morning comment: The commissioning of Russia's new crown vaccine stimulated market optimism, offset concerns about Sino-US relations, and aluminum prices closed higher overnight, with the London Stock Exchange closing at $1786 / ton in March, up 0.
17%.
Shanghai aluminum night trading repeatedly fluctuated, the main 2009 contract closed slightly above 14260 yuan / ton
.
The transaction in the spot market in the morning increased significantly, the holders were more willing to raise prices, the downstream actively replenished the goods, and the middlemen could receive the goods
.
The mainstream trading price in Shanghai is around 14460 yuan / ton, which is about 80 higher than the futures
.
The mainstream transaction price in Guangdong is around 14370 yuan / ton
.
In the domestic primary aluminum market, under the fundamental situation of weakening consumption and rising supply, inventories have entered a recovery stage, and the pressure on aluminum prices has become more and more obvious, and the pressure accumulation will inevitably lead to a downward trend in aluminum prices
.
However, as inventories are still low, beware of price rally-off triggered by fluctuations in market sentiment
.
Operationally, it is recommended to operate
at a high altitude and in the air.
