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February 23 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 has weakened for several days, and the overnight external metal continued to be strong
.
The London Stock Exchange three-month aluminum price closed up 1.
83% at $2175/mt
.
Shanghai aluminum night trading first fell and then rose, the main 2104 contract closed above 16790 yuan / ton
.

Aluminum City

In the morning, the spot market was actively traded as a whole, and the holders showed that they were reluctant to sell, and downstream entered the market one after another
.
The mainstream trading price in Shanghai is around 16,760 yuan / ton, which is about
20 higher than that of futures.

IAI data shows that global primary aluminum production recorded 5.
707 million tons in January, an increase of 4.
31%
year-on-year.
At present, aluminum prices are still greatly affected by macro sentiment, although the market is still in the accumulation stage, consumption expectations continue to be optimistic, in the case of accumulation does not exceed expectations, futures aluminum prices remain strong in the short term
.
It is recommended to take advantage of the dip and go long
.

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