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August 28 aluminum market morning review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Aluminum market morning comment: Most of the outer metals closed higher overnight as the Federal Reserve statement boosted market confidence
.
The London Stock Exchange three-month aluminum price closed up 0.
11% at $1778/mt
.
Shanghai aluminum overnight volatility lower, the main 2010 contract closed below 14545 yuan / ton
.

Aluminum City

In the morning spot market, the overall transaction was flat, with holders actively shipping, middlemen receiving goods not very actively, and downstream on-demand procurement dominantly
.
The mainstream trading price in Shanghai is around 14,700 yuan / ton, which is about 40 higher than that of futures
.
The mainstream transaction price in Guangdong is around 14820 yuan / ton
.

At present, the domestic market is still limited, spot remains premium, and futures warehouse receipts have declined
recently.
It is difficult for prices to fall sharply under short-term low inventory, and in the later period, as supply pressure continues to rise, the pressure on aluminum prices is becoming more and more obvious
.
Short-term aluminum prices maintain range-bound volatility, and short-term near-month range operations are the mainstay
.

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