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June 7 aluminum market morning review

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

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Aluminum market early comment: inventories continue to hit new lows and China's consumption expectations improve to stimulate the rebound of external aluminum prices, LME three-month aluminum prices rose 2.
39% to $2789 / ton
.
Shanghai aluminum overnight trading narrow range, the main 2207 contract fluctuated around 20900 yuan / ton, the end of the day closed at 20875 yuan / ton
.

Aluminum City

In the morning spot market, the transaction was not good, the holders actively shipped, the downstream chasing willingness was weak, and on-demand procurement was the mainstay
.
The South China market is still affected by repeated pledging events, and trading is sluggish
.
The mainstream trading price in Shanghai is around 20,830 yuan / ton, which is about 30 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 20760 yuan / ton
.

Domestic primary aluminum consumption continues to recover with the resumption of work and production, but the overall is not prominent, and terminal consumption is still dragged
down by real estate.
Stimulus policies still have yet to be effective
.
The supply side continues to grow
as production continues to rise.
Short-term supply and demand double rise, the contradiction is not very prominent, aluminum price range volatility is the mainstay
.
Operationally, short-term interval operation
is recommended.

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