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March 11 aluminum market morning review

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

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Aluminum market early comment: abnormal emotions released overnight metal rebound, the news of the British sanctions against Rusal shareholders once stimulated the external aluminum price to strengthen, the London Stock Exchange three-month aluminum price of the highest 3557.
5 US dollars / ton, but due to its relatively limited impact, then fell back and finally closed at 3400 US dollars / ton, the increase narrowed to 3%.

Aluminum City

Shanghai aluminum opened high and low overnight, and the main 2204 contract opened at a maximum of 22100 yuan / ton and closed at 21760 yuan / ton
.
In the morning, the overall transaction of the spot market picked up, and the downstream bargain was replenished, and the holders were slightly reluctant to sell
.
East China and South China are slightly differentiated, and South China purchases more aluminum rods
.
The mainstream trading price in Shanghai is 21,500 yuan / ton, and the discount to futures is about
30.
The mainstream transaction price in Guangdong is around 21480 yuan / ton
.

At present, the fundamental contradiction between domestic supply and demand is not prominent for the time being, consumption is seasonally picking up, production is also rising, high aluminum prices inhibit the pace of consumption recovery, and prices are falling consumption is released
.
Short-term markets are still largely influenced by overseas geopolitics
.
Changes in the situation in Russia and Ukraine still make overseas supply uncertain and continue to influence market sentiment, short-term external aluminum prices or repeated shocks, which in turn affect the trend
of domestic aluminum prices.
Short-term operations suggest callbacks for more operations
.

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