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March 1 aluminum market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market early comment: the situation in Russia and Ukraine has escalated, supply concerns have intensified, and the price of aluminum in the external market continues to reach a new high, with the highest three-month aluminum price on the London Stock Exchange being 3525 US dollars / ton
.
The start of negotiations between Russia and Ukraine eased concerns to some extent, and the rise in March aluminum prices narrowed to 0.
44%, closing at $3395 / ton
.
Shanghai aluminum opened low and went low overnight, and the main 2204 contract closed below 22585 yuan / ton
.

Aluminum City

The overall transaction of the morning spot market is general, the downstream on-demand procurement is the mainstay, and the holders are actively shipping, and the mainstream transaction price in Shanghai is around 22650 yuan / ton, which is about 70 lower than the futures
.
The mainstream transaction price in Guangdong is around 22670 yuan / ton
.

The short-term situation in Russia and Ukraine will still affect market sentiment, making the external aluminum price fluctuate sharply and remain strong
.
Domestic consumption is currently poor, while production continues to pick up and inventories continue to climb, putting pressure
on prices.
However, driven by the continued strengthening of external prices, it is difficult for domestic aluminum prices to fall
sharply.
Operationally, it is recommended to focus on short-term wait-and-see, and you can consider the pullback to be shorter
.
Pay attention to the situation in Russia and Ukraine and the situation of
domestic bases.

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