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June 17 aluminum market morning review

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

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Aluminum market morning comment: interest rate hikes have intensified recession fears, most of the outer metals fell overnight, and aluminum prices fell first
.
The LME three-month aluminum price was as low as $2,487/mt, closing at $2,521.
5/mt
.
Shanghai aluminum night trading was dragged down to open low and go low, and the main 2207 contract closed below 19660 yuan / ton
.

Aluminum City

The overall transaction volume of the spot market in the morning did not change much, and the South China market recovered and the transaction improved
.
Downstream enterprises mainly purchase on demand, and although inventory is declining, the circulation is sufficient
.
The mainstream trading price in Shanghai is around 20,150 yuan / ton, which is about 20 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 21210 yuan / ton
.

Domestic market consumption is still dragged down by real estate, but overall performance is still improving
.
However, the current macro situation, especially overseas pessimism, continues to suppress aluminum prices
.
In the medium term, the pressure to accelerate domestic production will also become more pronounced, causing the price center of gravity to shift
.
It is recommended to wait and see in the short term, and operate on the high side in the medium term
.

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