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February 2 aluminum market morning review

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

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Aluminum market morning comment: the US dollar index rose sharply, the external aluminum price came under pressure downward, and the three-month aluminum price on the London Stock Exchange closed below 1960.
5 US dollars / ton, down 0.
83%.

Shanghai aluminum fluctuated in a narrow range overnight, and the main 2103 contract closed slightly below 15220 yuan / ton
.

Aluminum City

The spot market is light, the enthusiasm for downstream receiving goods is not high, and the holders show willingness
to hold prices.
The mainstream trading price in Shanghai is around 15,200 yuan / ton, which is basically flat compared with futures
.
The mainstream transaction price in Guangdong is around 15200 yuan / ton
.

The current bullish atmosphere in the market is strong, mainly due to very optimistic post-holiday consumption expectations and less new capacity in the first quarter
.
In addition, the decline in the number of workers returning to their hometowns, and the expectation of lower production cuts during the Spring Festival holiday than in previous years, also contributed to bullish sentiment
.
However, the accumulation of stocks during the Spring Festival is inevitable, and the actual production reduction downstream remains to be seen, and it is not recommended to chase up
.
Before the holiday, it is recommended to wait
and see.

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