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June 16 aluminum market morning review

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

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Aluminum market morning comment: The strength of the US dollar index and concerns about China's measures to curb commodity prices, overnight the external metal fell across the board, and the London Stock Exchange three-month aluminum price closed down 1.
55% to $2450 / ton
.
Shanghai aluminum night volatility weakened, the main 2107 contract closed below 18835 yuan / ton
.

Aluminum City

The trading in the spot market has gradually weakened, the willingness of the holders to sell goods is strong, the downstream purchases on demand, and the enthusiasm of middlemen to receive goods is not high
.
The mainstream trading price in Shanghai is around 18,950 yuan / ton, which is about 60 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19020 yuan / ton
.

Domestic inventories continued to deteriorate, reflecting that consumption remained strong, while production growth failed to accelerate
for the time being.
Support for short-term fundamentals remains strong
.
However, the impact of policy cannot be ignored
.
Other regulatory means
other than dumping are not excluded.
Therefore, it is recommended to wait and see
.

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