echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > August 27 aluminum market morning review

    August 27 aluminum market morning review

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Aluminum market morning comment: investors turned cautious, waiting for the signal that the global central bank year is about to release, the dollar index strengthened again, and the metal mostly weakened
    overnight.
    Constrained by China's supply side, aluminum prices have resisted
    .
    The London Stock Exchange three-month aluminum price closed flat at $2620/mt
    .
    Shanghai aluminum night trading bucked the trend and reached a new high, the main 2110 contract closed above 20640 yuan / ton
    .

    Aluminum City

    There was no significant improvement in the spot market transaction in the morning, although the price fell, the enthusiasm for downstream receiving goods was still not high, and the middlemen were cautious
    .
    The mainstream trading price in Shanghai is 20,520 yuan / ton, which is about 20 percent lower than that of futures
    .
    The mainstream transaction price in Guangdong is around 20,600 yuan / ton
    .

    Xinjiang cracked down on overproduction and suppressed electrolytic aluminum production again, aggravating supply-side contradictions
    .
    In the case that the southwest operating capacity has not been restored, the trend of tightening supply will not change, continuing to provide support
    for aluminum prices.
    Operationally, it is recommended to maintain the idea
    of bargain hunting and long.
    Pay attention to the impact of
    mood swings in macro and other aspects.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.