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December 8 aluminum market morning review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Aluminum market morning comment: The US bailout plan expectations and China's foreign trade data strongly stimulated the price of most metals, but dragged down by the long reduction, the external aluminum price closed lower, and the three-month aluminum price on the London Stock Exchange closed at 2013 US dollars / ton, down 1.
37%.

Shanghai aluminum overnight opened low and rebounded, and the main 2101 contract closed above 16160 yuan / ton
.

Aluminum City

In the morning, the spot market transaction gradually weakened, holders showed a certain willingness to hold prices, middlemen and traders turned to wait and see, and downstream replenishment
.
The main trading price in Shanghai is around 16,500 yuan / ton, which is about 100 higher than the futures
.
The mainstream transaction price in Guangdong is around 16480 yuan / ton
.

At the end of the year, domestic consumption still maintained a certain level, prices fell behind, some consumption suppressed by excessive aluminum prices is expected to be released, and the current explicit inventory is still at a low level, and futures warehouse receipts are still declining
.
Therefore, short-term aluminum prices may enter a stage of repeated shocks, and it is not recommended to chase short near-month contracts, but high-altitude far-month contracts
.

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