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July 5 aluminum market morning review

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

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Aluminum market morning comment: the US dollar index strengthened, overseas aluminum market consumption slowdown concerns, overnight external aluminum prices fluctuated back, LME three-month aluminum prices closed down 0.
22% to 2463 US dollars / ton
.
Shanghai aluminum night trading first fell and then rose, the fluctuation range is not large
.
The main 2208 contract closed slightly above 19040 yuan / ton
.

Aluminum City

Spot market trading improved slightly in the morning, mainly due to the recovery
of trading in the South China market.
The overall downstream receipt is insufficient, and middlemen and traders have vaguely transacted
.
The mainstream trading price in Shanghai is around 19180 yuan / ton, which is called futures close to
about 20.
The mainstream transaction price in Guangdong is around 19130 yuan / ton
.

The recovery of the domestic economy led to a rebound in aluminum consumption, but the drag on consumption in the real estate sector and the suppression of off-season consumption made the overall domestic consumption weak.

As production continues to climb, weaker fundamentals weigh on
prices.
In the medium term, the supply-side pressure brought about by rising production is becoming more and more obvious, and aluminum prices are prone to fall and difficult to rise
in the context of overseas interest rate hikes.
Operationally, it is recommended to rebound the short idea
.

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