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Aluminum market morning comment: the dollar index strengthened again, metal prices under pressure
.
Overnight, the London Stock Exchange March aluminum price closed down 0.
62% to $2014/mt
.
Shanghai aluminum opened low and fluctuated in a narrow range overnight, and the main 2103 contract closed below 14685 yuan / ton
.
There was no significant improvement in the spot market trading in the morning, regardless of the slight reluctance of the holders, downstream on-demand procurement
.
The mainstream trading price in Shanghai is around 14850 yuan / ton, basically the same
as futures.
The mainstream transaction price in Guangdong is around 14800 yuan / ton
.
The weakening of consumption in the off-season is obvious, and the recent domestic epidemic has also triggered concerns
about the accelerated decline in consumption.
While production continues to rise, supply and demand fundamentals weaken, and accumulation pressure on prices becomes more and more obvious
.
It is operationally recommended to maintain the empty configuration
.