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Aluminum market early comment: Russia wants to impose aluminum export tariffs, affected by this news, the external aluminum price continued to rise
.
The London Stock Exchange three-month aluminum price rose 0.
4% to $2440/mt
.
Shanghai aluminum opened higher overnight, and the main 2108 contract closed above 18765 yuan / ton
.
The overall transaction of the spot market in the morning is general, with holders actively shipping and downstream purchasing
on demand.
The mainstream trading price in Shanghai is 18,770 yuan / ton, which is basically flat compared with futures
.
The mainstream transaction price in Guangdong is around 18930 yuan / ton
.
Russia's tariffs on aluminum exports will reduce aluminum supplies
outside the Eurasian Economic Union to some extent.
Data show that in the first five months, China imported 147,300 tons of primary aluminum from Russia, accounting for 25.
3%
of the total domestic imports.
Therefore, the export tariffs implemented by Russia on August 1 have a certain impact
on domestic aluminum imports.
However, the import window has not yet been fully opened, and the impact remains to be seen
at that time.
At present, consumption in the off-season is weak, but the fundamentals are still strong overall, and short-term aluminum prices maintain a range-bound trend and maintain a wait-and-see
trend.
