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August 18 aluminum market morning review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Aluminum market morning comment: Poor US retail sales data in July and a sharply stronger dollar index put pressure on metal prices
.
Overnight, the outer metal fell across the board, and the three-month aluminum price on the London Stock Exchange fell 1.
09% to $2576 / ton
.
Shanghai aluminum night trading also pulled, the main 2109 contract closed below 20270 yuan / ton
.

Aluminum City

In the morning, there was still a stable transaction in the spot market in the early stage, but as the price soared, the reception was cold
.
The mainstream transaction price in Shanghai is around 20240 yuan / ton, which is about 20 percent lower than his later
.
The mainstream transaction price in Guangdong is around 20390 yuan / ton
.

At present, the domestic power shortage has not been alleviated, electrolytic aluminum has the possibility of continuing to reduce production, production has declined, and the development reform and then mention "dual control of energy consumption" has aggravated supply decline concerns, and consumption has peak season expectations
.
This gives strong support to aluminum prices, and it is operationally recommended to pull back to go long, and it is not recommended to chase higher
.

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