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July 24 aluminum market morning review

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

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Aluminum market morning comment: The US dollar index continued to weaken, and the outer metal rose across the board overnight
.
The London Stock Exchange three-month aluminum price closed up 1.
07% at $1707.
5 / ton
.
Shanghai aluminum night trading also rose, the main 2008 contract closed above 14500 yuan / ton
.

Aluminum City

The spot market performed poorly in the morning, with holders actively shipping, middlemen being more wait-and-see, and downstream purchasing
on demand.
The mainstream trading price in Shanghai is around 14,550 yuan / ton, which is about 140 premiums over futures
.
The mainstream transaction price in Guangdong is around 14480 yuan / ton
.

At present, the domestic market has not yet had obvious accumulation, although the spot tension pattern has eased, but it is still tight, futures inventories continue to decline, and the current macro sentiment is still optimistic, so short-term aluminum prices are prone to rise and fall
.
However, the risk of chasing is higher, as the pressure of weakening fundamentals appears
.
In the short term, it is recommended to wait
and see.

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