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March 28 aluminum market morning review

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

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Aluminum market morning comment: overseas sentiment continues to be affected
by news related to Western sanctions against Russia.
Overnight, the external aluminum price rebounded with crude oil prices, and the three-month aluminum price on the London Stock Exchange closed up 1.
54% to $3625 / ton
.
Shanghai aluminum night trading also rebounded, but the magnitude was relatively limited
.
The main 2205 contract closed above 23125 yuan / ton
.

Aluminum City

In the morning, spot market trading improved, downstream bargain hunting replenishment, holders quoted relatively firmly, traders performed less positively
.
The mainstream trading price in Shanghai is around 22990 yuan / ton, which is about 80 percent lower than the futures
.
The mainstream transaction price in Guangdong is around 23010 yuan / ton
.

At present, supply and demand in the domestic market are still affected by the epidemic, but the market is optimistic
about the seasonal recovery of consumption and economic stimulus policies.
The uncertainty of overseas supply continues under the continuation of the situation in Ukraine, supporting the continued strengthening of external aluminum prices, and also driving domestic aluminum prices
.
Short-term aluminum prices maintain high operation, and it is recommended to pull back to do long ideas
.

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