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June 22 aluminum market morning review

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

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Aluminum market morning comment: after several consecutive days of sharp rises, the dollar index fell back, overnight external metals rebounded across the board, and the three-month aluminum price on the London Stock Exchange rose 0.
69% to $2402 / ton
.
Shanghai aluminum also rebounded, and the main 2107 contract closed above 18525 yuan / ton
.

Aluminum City

The overall operation of the spot market in the morning was stable, the downstream receiving of goods in the East China market was relatively positive, and the performance of cargo holders was reluctant to sell, and the mainstream transaction price in Shanghai was around 18370 yuan / ton, which was about 30 higher than the futures
.
Guangdong transaction is slightly inferior, the mainstream transaction price is around 18610 yuan / ton
.

The off-season is approaching, and domestic consumption has declined slightly, but there is still strong support from fundamentals due to limited production uplift, a month-on-month decline in imports, and signs of deteriorating inventories
.
Prices stabilized as the macro bearish digested, but selling stocks and off-season expectations put pressure
on prices above.
Short-term aluminum prices are still dominated by range-bound shocks, and it is recommended to maintain a wait-and-see
.

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