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December 22 aluminum market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market morning comment: market risk appetite heats up, and the surge in European electricity prices has once again triggered concerns
about production cuts.
Overnight, the price of aluminum rose nearly 4% to $2,775 / ton
.
Shanghai aluminum night trading followed the strength, the main 2201 contract closed at 19805 yuan / ton
.

Aluminum City

In the morning spot market, the transaction was weak, and the holders actively shipped for cash, and the downstream bargain was purchased
on demand.
The mainstream trading price in Shanghai is around 19,410 yuan / ton, which is about 140 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19,500 yuan / ton
.

At present, the contradictions in domestic fundamentals are not prominent, and destocking has support
for aluminum prices.
The recent continuous rise in European electricity prices, the risk of European aluminum smelter production reduction has risen, and it remains to be seen whether production will be
reduced.
Recently, the production capacity delayed by Rusal has been launched
.
In the short term, due to production cuts, aluminum prices are strong.

In terms of operation, it is recommended to operate in short-term intervals
.

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