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August 22 aluminum market morning review

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

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Aluminum market morning comment: the US dollar index continued to strengthen, and after the overseas production cut news was digested, bulls reduced their positions, and the external aluminum price closed lower on Friday, and the LME three-month aluminum price fell 0.
48% to $2393.
5 / ton
.
Shanghai aluminum rebounded after opening low overnight, stimulating policy expectations to make aluminum prices rebound
with other metals.
The main 2209 contract closed above 18530 yuan / ton
.

Aluminum City

The morning spot market East China and South China show differences, East China market transaction is acceptable, downstream weekend stocking, holders slightly high price selling, Shanghai mainstream transaction price is around 18410 yuan / ton, compared with futures discount of about
10.
The South China market traded lightly, and the mainstream transaction price was around 18280 yuan / ton
.

At present, the scope of power cuts has an expansion trend, and aluminum plant production restrictions have also expanded, which has given short-term aluminum prices support, but due to continued weak consumption, it has inhibited price increases
.
Short-term aluminum prices or repeated fluctuations, it is recommended to wait and see for
the time being.

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