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July 9 aluminum market morning review

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

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Aluminum market morning comment: market risk aversion rose, overnight outer metal mostly weakened
.
The three-month aluminum price on the London Stock Exchange fell another 1.
49% to $2450.
5/ton
.
Shanghai aluminum overnight trading narrow range, the main 2108 contract closed at 18750 yuan / ton
.

Aluminum City

In the morning, the spot market trading was volatile, the early buyers and sellers performed positively, as the price fell, the holders were slightly less confident, and the downstream low-price procurement was the mainstay
.
The mainstream trading price in Shanghai is around 18,780 yuan / ton, which is about 30 percent lower than the futures
.
The mainstream transaction price in Guangdong is around 18850 yuan / ton
.

At present, consumption is gradually weakening, production disturbances are temporarily subsiding, supply is gradually increasing, and supply and demand fundamentals are weakening seasonally, which puts pressure
on prices.
However, medium- to long-term optimism has bottomed out for prices
.
Short-term it is recommended to operate on the high side, and macro sentiment changes still need to be paid close attention
.

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