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January 18 aluminum market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market morning comment: With the implementation of production cuts by European smelters and tightening supply, overnight aluminum prices continued to be strong, and the three-month aluminum price on the London Stock Exchange rose 0.
44% to $3,000 / ton
.
Shanghai aluminum traded in a narrow range overnight, and the main 2202 contract closed slightly below 21075 yuan / ton
.

Aluminum City

There is still a certain transaction in the morning spot market, of which the East China market continues to go to stock, the price decline has stimulated the enthusiasm of some middlemen to purchase, and the transaction in the East China market is weak
.
The mainstream trading price in Shanghai is around 21090 yuan / ton, which is about 10 lower than that of futures
.
The mainstream transaction price in Guangdong is around 21080 yuan / ton
.

At present, overseas energy problems are still there, European electricity prices remain at a high level, the possibility of further production cuts by aluminum smelters still exists, and external aluminum prices remain strong under supply concerns, driving domestic prices
.
However, as domestic consumption weakens further, it is inevitable that pre-holiday prices will be suppressed
.
Short-term recommended rebound short
.

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