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March 16 aluminum market morning review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Aluminum market morning comment: the news of domestic production cuts and consumption reduction stimulated the external aluminum price to follow last week, overnight London Stock Exchange aluminum price rose 2.
24% to 2220 US dollars / ton
.
Shanghai aluminum opened high and went higher overnight, and the main 2104 contract broke through the previous high, with a maximum of 17955 yuan / ton, closing at 17865 yuan / ton
.

Aluminum City

The overall transaction of the morning spot market is acceptable, and East China is better than South
China.
The mainstream trading price in Shanghai is around 17,630 yuan / ton, which is basically flat compared with futures
.
The mainstream transaction price in Guangdong is around 17610 yuan / ton
.

Inner Mongolia electrolytic aluminum has successively reduced production and consumption, and it is expected that the annual production capacity will reach 600,000 tons, which means that the annual output is much less than expected
.
The downward revision of supply expectations pushes up aluminum prices, and it is recommended to do the idea
of bargaining.

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