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Brief comment on the aluminum market on May 10

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Brief comment on the aluminum market, Thursday's Shanghai aluminum main 1906 contract opened at 13975 yuan / ton this morning, after the opening of the short position reduction, aluminum price respite rose to the highest level of the day 14035 yuan / ton, and then the center of gravity fell back to 14020 yuan / ton before noon narrow range shock; In the afternoon opening period aluminum slightly higher after some bulls left the market with insufficient confidence, the plate was difficult to find support began to shock downward, giving up part of the morning gains, and finally closed at 14010 yuan / ton, up 85 yuan / ton, up 0.
61%.

Aluminum City

The price of South China aluminum ingots in South China is 14070-14170 yuan, the average price is 14120 yuan, up 40 yuan, the premium of the month is 70 yuan, the premium is expanding, the supply is tight, the situation is better, traders are cautious when receiving goods, the market transaction is weak, the mainstream transaction price is concentrated between 14090-14130 yuan, which is -20~10 yuan
higher than the average price of South China Reserve.

The quotation of South Reserve East China aluminum ingots is 14060-14100 yuan, and the average price is 14080 yuan, which is flat
.
Yangtze River: 14070-14110, 14090, flat
.
Holders are actively shipping, spot quotations in the secondary trading session are slightly reduced, the market circulation is abundant, downstream just need to purchase, receivers enter the market to find low-priced sources, and the transaction fell
back before noon.
The transaction price is between 14060-14080 yuan, which is between -20~0 yuan compared with the average price of South Reserve East China
.

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