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Last Friday night, the main force of Shanghai aluminum fell sharply in 2004, closing at 13110 yuan / ton, down 320 yuan / ton, or -2.
38%.
On the whole, the continuous increase in aluminum market inventories has put pressure on aluminum prices, but some alumina companies have been forced to stop production due to the epidemic, which has supported aluminum prices, and it is expected that Shanghai aluminum will fluctuate at a low level within the day, with an operating range of 13000-13500
.
Pay attention to the downstream resumption of
work.
On Friday, the external aluminum price first fell and then rose, and the lowest value of the three-month aluminum price on the London Stock Exchange was 1665 US dollars / ton, but the price rebounded in European trading hours, and finally closed above 1701.
5 US dollars / ton, up 0.
65%.
The domestic morning spot market was suppressed in the case of a sharp drop in price, middlemen were mainly wait-and-see, downstream stocking willingness was low, and the mainstream transaction price in Shanghai was 13,100 yuan / ton, a discount of about
80 compared with futures.
The mainstream transaction price in Guangdong is around 13110 yuan / ton
.
Systemic risks caused by the overseas pandemic have caused prices to plummet, short-term panic needs to be released, and rising domestic inventories have also weighed on prices
.
However, with the recovery of domestic downstream construction, consumption has improved overall, and the rise in alumina prices has also pushed up costs, so the short-term price decline space may be limited
.
Operationally, it is recommended to wait and see for
the time being.
