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June 20 aluminum market morning review

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

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Aluminum market morning comment: The dollar index rebounded, pessimism continued to ferment, last Friday the external aluminum price continued to decline, LME three-month aluminum price fell 0.
73% to 2503 US dollars / ton
.
Shanghai aluminum opened low and went low overnight, and the main 2207 contract closed below 19600 yuan / ton
.

Aluminum City

In the morning, the spot spot market trading was not very active, and the downstream on-demand procurement was cautious
overall.
Holders have raised prices
.
The overall trading volume of the market is average
.
The mainstream trading price in Shanghai is around 19,910 yuan / ton, which is about 20 higher than the futures
.
The mainstream transaction price in Guangdong is around 19910 yuan / ton
.

At present, the domestic economy continues to recover, and aluminum market consumption continues to improve driven by the clean recovery of the automobile market and the promotion of infrastructure, but the drag on the real estate market is still obvious
.
Although it has been shown that the inventory has been greatly destocked, there are reasons for the transfer of inventory caused by warehousing events, and the current macro sentiment still needs to be eased
.
In the medium term, the production climb is strong, the pressure on prices is increasing, and the price center of gravity is moving
downward.
Medium-term short operation
is recommended.

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