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July 15 aluminum market morning review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Aluminum market morning comment: the US dollar index passed a new high, economic outlook concerns still dominate the external metal, overnight LME metal prices fell across the board, the March aluminum price fell 1.
36% to 2327 US dollars / ton
.
Shanghai aluminum rebounded against the trend after a brief dip at the opening of the night, and the short reduction temporarily eased the price decline
.
The main 2208 contract closed slightly above 17295 yuan / ton
.

Aluminum City

In the morning, the overall transaction of the spot market improved, the downstream entered the market for stocking, middlemen and traders also showed positive performance, and the holders were reluctant to sell
.
The mainstream trading price in Shanghai is around 17440 yuan / ton, which is basically more common than futures
.
The mainstream transaction price in Guangdong is around 17390 yuan / ton
.

After the price of aluminum fell below the cost, no smelter has a plan to reduce production, and the production capacity has not been interrupted, and the short-term production climbing momentum has not changed
.
However, it is difficult for consumption to improve in the off-season, and the recent suspension of commercial housing loans may also have an adverse impact on later sales, which lengthens the repair cycle of the real estate market
.
Ongoing overseas economic concerns are also negative
for prices.
Short-term aluminum prices have no support for the time being, and it is difficult to change their weakness
.
Operationally, it is recommended to rebound and go short.

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