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February 10 aluminum market brief commentary

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Brief comment on the aluminum market: Today's non-ferrous metal market is generally red, and as of the close of the day, Shanghai aluminum rose 0.
32%.

Thanks to the weakening of the US dollar index, coupled with the strong performance of China's financial data, and the strong optimism of the stock market, non-ferrous metals are collectively strong
.

Aluminum City

Last week, aluminum prices first suppressed and then rose, in the aluminum ingot inventory data accumulation is less than expected, superimposed on the notice of Inner Mongolia to adjust the cost of electricity prices, bull sentiment has been boosted, funds rush to run is strong, aluminum prices have risen one after another, the bull trend has become a
trend.

In terms of spot, LME aluminum spot premium was $5.
90/ton, compared with a discount of $3.
25/ton
in the previous session.
The overall spot trading in East China was concentrated
at 15750-15770 yuan / ton in the morning.
On the whole, the holiday atmosphere has a significant impact on the transaction of the spot market, and some middlemen have led to a decline in trading activity during the holiday, and it is expected that after the Spring Festival, with the resumption of work and middlemen and the recovery of trading activity, East China spot is expected to turn into a premium market
.

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