March 24 aluminum market morning review

On Monday, U.
S.
stocks triggered circuit breakers again, and Shanghai metals fell sharply after the open, and as of the close, the main 2005 contract of Shanghai aluminum closed down 5.
22% to 11345, down 625 from the previous trading day; In the external market, the panic was not lifted, and the overnight external metal extended its decline, and the three-month aluminum price on the London Stock Exchange closed down 1.
08% to $1560 / ton
.

The activity of the domestic spot market has increased, and both downstream and middlemen have shown strong willingness to purchase, but the holders are slightly reluctant to sell, and the trading is deadlocked, which affects the actual trading volume
.
The mainstream trading price in Shanghai is around 11,200 yuan / ton, which is about 90 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 11220 yuan / ton
.

Affected by the new crown epidemic, the probability of the global economy falling into recession in the year has increased, and with the accelerated spread of the domestic epidemic, the economies of many countries have fallen into phased stagnation, factories have stopped production, and aluminum terminal consumption has also shrunk sharply, which is extremely unfavorable
to domestic exports.
At present, the market is dominated by panic, while domestic prices have fallen to a level well below cost, prices fluctuate sharply, and there are greater risks in operation, and it is recommended to control risks
.