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July 18 aluminum market morning review

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

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Aluminum market morning comment: the dollar index retreated, market pessimism suspended, the outer metal rebounded on Friday, LME March aluminum price rose 0.
56% to $2340 / ton
.
Shanghai aluminum night trading also rebounded
restoratively.
The main 2208 contract closed above 17700 yuan / ton
.

Aluminum City

The overall transaction volume of the spot market in the morning improved, and there was a demand for stocking downstream on the weekend, while the holders were reluctant to sell, and the circulation of goods decreased, especially in
South China.
The mainstream trading price in Shanghai is around 17420 yuan / ton, which is basically ordinary than futures
.
The mainstream transaction price in Guangdong is around 17360 yuan / ton
.

The current period of aluminum is still greatly affected by the macro surface, and the price ushered in a restorative rebound after the temporary consumption of the macro bearishness, but the fundamentals were weak, due to the suppression of consumption in the off-season, the real estate market was still dragged down, and production continued to rise
.
Under this circumstance, the rebound in aluminum prices is difficult to sustain and the rebound space is limited
.
Operationally, it is recommended to rebound short ideas
.

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