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August 9 aluminum market morning review

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

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Aluminum market morning comment: U.
S.
employment data and unemployment rate were significantly better than expected, and the dollar index strengthened sharply, triggering a decline in metal prices
.
On Friday, the London Stock Exchange three-month aluminum price closed down 0.
12% to $2583.
5 / ton
.
Shanghai aluminum opened high and low in the night session, and the main 2109 contract closed below 19840 yuan / ton
.

Aluminum City

The spot market traded better
in the morning.
Market arrivals are still low, downstream weekend stocking purchases are active, and cargo holders are slightly reluctant to sell
.
The mainstream transaction price in Shanghai is 19920 yuan / ton
.
Compared with the futures discount of about 20, the discount has narrowed
.
The mainstream transaction price in Guangdong is around 20100 yuan / ton
.

Employment has improved sharply, and the Fed's tapering expectations have increased sharply, putting pressure on short-term aluminum prices, but the interference on the domestic supply side has become more serious, and the possibility of further production cuts has increased, giving strong support to aluminum prices
.
It is recommended to call back to do long ideas
.

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