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July 21 aluminum market morning review

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Aluminum market morning comment: As concerns caused by the Delta virus eased, overnight outer metals generally rebounded, and the London Stock Exchange closed up 1.
16% to $2448 / ton
.
Shanghai aluminum night trading also rebounded, the main 2108 contract briefly fell to 18900 yuan / ton after a rapid rebound, and closed above 19185 yuan / ton
.

Aluminum City

The overall transaction of the spot market in the morning maintained a certain degree of activity, but downstream and middlemen purchased at a low price
.
The mainstream trading price in Shanghai is around 19,040 yuan / ton, which is about 40 percent lower than that of futures
.
The mainstream transaction price in Guangdong is 19160 yuan / ton
.

The short-term market is intertwined, the second batch of reserve aluminum is about to be launched, the market transmission volume will be greatly increased, coupled with the weakening of consumption in the current off-season, which is not conducive
to short-term prices.
However, supply-side disruptions have relapsed recently, with the flooding in Zhengzhou affecting transportation and strong medium- and long-term supply bottlenecks
.
Therefore, short-term aluminum prices may fluctuate repeatedly, and it is recommended to wait and see
for the time being.

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