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January 29 aluminum market morning review

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

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Aluminum market morning comment: The fall in the US dollar index has generally rebounded overnight outside the market, but aluminum prices have soared and fallen, partly affected by the recent sharp rise in inventories
.
The three-month aluminum price on the London Stock Exchange was as low as $1969 / ton and as high as $2007 / ton, closing at $1981.
5 / ton, down 0.
3%.

Shanghai aluminum night trading opened higher, the main 2103 contract closed above 14910 yuan / ton
.

Aluminum City

In the morning spot market, the overall transaction was flat, and more shipments were made than received
.
The mainstream trading price in Shanghai is around 14,860 yuan / ton, which is about 20 higher than that of futures
.
The mainstream transaction price in Guangdong is around 14810 yuan / ton
.

Transportation capacity and other problems have caused the recent New Year spot market to arrive less and the obvious inventory accumulation is slow, which has fueled optimistic expectations and curbed the price decline, but the accumulation trend during the spring period has not changed, and the price temporarily lacks upward momentum
.
Short-term or range-bound volatility is the mainstay, and operationally it is recommended to wait and see before
the holiday.

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