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August 26 aluminum market morning review

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

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Aluminum market morning comment: Overseas aluminum plant production cuts have contracted supply, but the economic slowdown has also caused concerns
about slowing consumption.
Overnight, the price of aluminum in the outer session closed lower more with the strength of the US dollar, and the LME three-month aluminum price fell 0.
06% to $2426.
5 / ton
.
Shanghai aluminum opened low and fluctuated in a narrow range at night, and the main 2209 contract closed slightly below 18910 far / ton
.

Aluminum City

In the morning, the spot market trading turned weak, the price rose, the downstream procurement strength weakened, and the trading between traders was acceptable, but the circulation was abundant, and there were more discounted transactions
.
The mainstream trading price in Shanghai is around 18,800 yuan / ton, which is about 20 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 18,700 yuan / ton
.

Short-term large-scale production cuts have eased supply pressures, and there is an expectation
of tight supply during peak seasons.
However, against the backdrop of a generally poor economy, the overall weakness of real consumption will not change, and it is expected that it will not improve significantly in September
.
Short-term aluminum prices are strong or difficult to sustain.

In the short term, it is recommended to wait
and see.

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