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August 5 aluminum market morning evaluation

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

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Aluminum market morning comment: economic stimulus expectations stimulated the strength of the outer metal, overnight the external aluminum price continued to climb, the London Stock Exchange three-month aluminum price rose another 1.
35% to 1768 US dollars / ton
.
Shanghai aluminum opened high and volatile overnight, and the main 2009 contract closed above 14740 yuan / ton
.

The overall performance of the spot market improved slightly in the morning, with traders receiving long orders and downstream purchasing
on demand.
The mainstream trading price in Shanghai is around 14980 yuan / ton, which is about 20 higher than futures
.
The mainstream transaction price in Guangdong is around 14930 yuan / ton
.

At present, the strong domestic economy has driven aluminum consumption, and the off-season inventory has not seen a significant upward momentum, maintaining support for aluminum prices
.
However, the increase in production and imports has strengthened expectations of supply growth, and there is pressure
on prices.
In the short term, the shock adjustment, the operation is recommended to wait and see
.

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