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August 24 Shanghai aluminum morning review

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

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Overnight, the main force of Shanghai aluminum opened at 14655 yuan / ton, after the opening of the bulls entered to try to continue the eve rally, the high touched 14715 yuan / ton, and then due to concerns about the Sino-US trade war tariffs, bulls avoided the market, aluminum prices fluctuated downward, closing at a low of 14630 yuan / ton
.
The night session opened at 14640 yuan / ton, a small number of bulls left the market after the opening, and the low was refreshed to 14610 yuan / ton
.
After the bulls entered the market to re-raise the price of aluminum, the high touched 14775 yuan / ton, the end of the session short profit exited, the shock closed at 14750 yuan / ton, up 80 yuan / ton, up 0.
55%.

Shanghai aluminum

Yesterday, the $16 billion mutual tariffs between China and the United States landed, and aluminum prices have declined
.
On the one hand, the normalization of mine end rectification has led to limited supply price increases, and alumina production is limited due to rising costs and insufficient raw material supply; On the other hand, it is expected that this year's heating season production restrictions will restrict alumina production; In addition, there is a shortage of overseas alumina supply, and foreign prices are higher than domestic alumina exports, which drives the convergence of domestic and foreign price differences
.
It is expected that the cost side will continue to move upward to boost aluminum prices
.

Yesterday at noon, China and the United States imposed 25% tariffs on 16 billion goods to each other, and the bulls left the market during the day, and the bulls returned in the evening, and aluminum prices rebounded
.
It is expected that today's Shanghai aluminum operation is 14650~14800 yuan / ton, and the discount is 70~30 yuan / ton
.

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