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August 4 aluminum market morning review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Aluminum market early comment: The continued spread of the Delta variant continued to suppress market sentiment, and overnight the outer metal fell across the board, and the three-month aluminum price on the London Stock Exchange closed down 0.
94% to $2588.
5 / ton
.
Shanghai aluminum night trading was volatile, and the main 2109 contract closed slightly below 19740 yuan / ton
.

Aluminum City

Spot market trading weakened
in the morning.
The price retraced, the performance of the holder did not hesitate to sell, the downstream did not increase procurement, and as the price weakened further, it turned to wait and see
.
The overall market is not doing well
.
The mainstream trading price in Shanghai is around 19,760 yuan / ton, which is about 60 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 19880 yuan / ton
.

The accelerated spread of the new crown variant and the tightening of domestic controls have limited short-term economic activity, but will soon recover
.
Recently, the power shortage in southwest regions such as Yunnan has not been alleviated, and the release of electrolytic aluminum production capacity has been repeatedly delayed, and the impact on production has intensified, giving strong support
to aluminum prices.
Operationally, it is recommended to focus on the idea of
callbacks and long ideas.

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