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June 24 aluminum market morning review

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

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Aluminum market morning comment: encouraged by the dovish signal of the Fed chairman, the market risk appetite returned
.
Overnight external metals continued to be strong, with the London Stock Exchange three-month aluminum price rising 0.
33% to $2434/mt
.
After the opening of the Shanghai aluminum night market, it rose in a narrow range, and the main 2108 contract closed above 18850 yuan / ton
.

Aluminum City

The overall trading of the spot market has ups and downs, with downstream on-demand purchases in the early stage, and then declining as quotations rise, and holders have also turned from selling to dumping
.
The mainstream transaction price in Shanghai is around 18750 yuan / ton
.
The mainstream transaction price in the Guangdong market is around 18930 yuan / ton
.

The first batch of aluminum ingot reserves were very limited and far from market expectations, which to some extent stimulated a bull counterattack, but as the off-season approached, consumption margins weakened, and policy pressure did not end, and prices remained under pressure
.
The short-term aluminum price range shock pattern is difficult to change, and it is recommended to maintain a wait-and-see
.

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