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December 21 aluminum market morning review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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aluminum trifluoride

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Aluminum market morning comment: The accelerated spread of the Omicron variant and the increase in protest measures in many European countries have triggered market concerns about economic setbacks, rising risk aversion and falling commodity prices
.
Overnight, the outer metal line fell across the board, and the three-month aluminum price on the London Stock Exchange fell below 2700 yuan / ton, closing at 2663 US dollars / ton, down 2.
58%.

Shanghai aluminum night trading gap opened low, the main 2202 contract closed slightly below 19560 yuan / ton
.

Aluminum City

In the morning, the spot market cooled down significantly, and the downstream received a small number of goods at the dip, while the holders actively dumped the goods, and the trading volume declined
.
The mainstream trading price in Shanghai is around 19,580 yuan / ton, which is about 110 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19660 yuan / ton
.

At present, China is still in the stage of destocking, but consumption will weaken
seasonally as the demand for rush work at the end of the year is resolved.
The output will remain stable in the short term, and it is expected
to recover in the later period with the resumption of production.
Short-term destocking still supported prices for a while
.
However, the current epidemic and other macro faces a greater impact on market sentiment, and the price fluctuates repeatedly, maintaining range volatility
.
Short-term interval operation is recommended, and medium-term can be tested at high prices
.

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