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July 22 aluminum market morning review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Aluminum market morning comment: The EU large-scale stimulus plan passed, the dollar index fell sharply, and metals rose
overnight.
The three-month aluminum price on the London Stock Exchange once approached the previous high, closing at $1699.
5 / ton, up 2.
23%.

Domestic night metal is also strong, and the main 2008 contract of Shanghai aluminum closed above 14395 yuan / ton
.

Aluminum City

The pattern of tight supply in the spot market in the morning has eased, holders are actively shipping, middlemen are not motivated, downstream on-demand procurement, Shanghai's mainstream transaction price is around 14400 yuan / ton, about 190 higher than futures
.
The mainstream transaction price in Guangdong is around 14330 yuan / ton
.

Although the current domestic fundamentals are seasonally weakening, the price pressure is temporarily limited, and the market accumulation is not obvious
.
Low inventories and macro optimistic expectations make the current aluminum price easy to rise and fall, but the supply pressure gradually accumulates in the later period, inhibiting the price to continue to rise
.
Short-term intertemporal arbitrage operations are recommended
.

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