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August 7 aluminum market morning review

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

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Aluminum market morning comment: the US dollar index has been lower for several days, most of the overnight external metals are stronger, and the three-month aluminum price on the London Stock Exchange closed above 1778 US dollars / ton, up 0.
99%.

Shanghai aluminum was weak and volatile in overnight trading, and the main 2009 contract closed at 14450 yuan / ton
.

Aluminum City

In the morning, the volume of the spot market has risen, traders have been more active, and the willingness to purchase downstream has also rebounded
.
The mainstream trading price in Shanghai is around 14,650 yuan / ton, which is about 30 premiums over futures
.
The mainstream transaction price in Guangdong is around 14580 yuan / ton
.

At present, domestic consumption is weakening, under the combined effect of increasing output and rising imports, the supply is rising significantly, and the market has entered the accumulation stage, which has put obvious pressure
on prices.
Operationally, it is recommended to test the short at a high level, and it is still necessary to be vigilant about the risk
of forced positions that may be caused by the overall inventory is still at a low level.

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