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Aluminum market morning comment: domestic and foreign supply-side disturbances intensified, the US 1.
2 trillion infrastructure plan was promoted, the US dollar index continued to weaken sharply, pushing up metal prices
.
Overnight metals rose across the board, with the three-month aluminum price on the London Stock Exchange rising 2.
99% and closing at a maximum of $2596.
5 / ton, a new closing high
.
Shanghai aluminum night trading also rose sharply, the main 2109 contract closed at 19945 yuan / ton
.
The spot market cooled down in the morning, and the early transaction was acceptable, but as the price continued to soar, the enthusiasm for downstream receiving goods declined
.
The mainstream trading price in Shanghai is around 19,510 yuan / ton, which is about 40 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19610 yuan / ton
.
Yunnan's power supply shortage has intensified, electrolytic aluminum production has been reduced for the second time, while the power supply in Guizhou and Guangxi has also tightened, and electrolytic aluminum plants are also facing pressure drop load
.
Production losses have intensified, and even the dumping cannot make up for
it.
Short-term supply setbacks and medium- and long-term bottlenecks continue to push up aluminum prices
.
Before the current situation eases, aluminum prices remain strong, and it is recommended to go long
on dips.
