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March 31 aluminum market morning review

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

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Aluminum market morning comment: The US dollar has weakened sharply for several days, while the supply uncertainty caused by Western sanctions against Russia has not been lifted, and the overnight aluminum price rebounded
.
The London Stock Exchange three-month aluminum price closed up 2.
83% at $3546.
5 / ton
.
Shanghai aluminum traded in a narrow range overnight, and the main 2205 contract closed slightly below 22910 yuan / ton
.

Aluminum City

The overall transaction of the spot market is still restricted, and the impact of epidemic control on shipping is still great
.
Holders have lowered their quotations and
few receivers have taken delivery.
The mainstream trading price in Shanghai is around 22,720 yuan / ton, which is about 70 percent lower than the futures discount
.
The mainstream transaction price in Guangdong is around 22730 yuan / ton
.

At present, the domestic epidemic situation is still serious, the situation of blocked delivery in consumption places and the decline in downstream operating rate has not been alleviated, and consumption has been significantly affected, resulting in short-term storage and putting pressure
on prices.
Recently, the price of aluminum in the external market has shown a volatile trend, which is mainly related
to the progress of the situation in Russia and Ukraine.
Short-term overseas supply uncertainty is still large, which continues to provide support
for external aluminum prices.
Short-term Shanghai aluminum or range shock is the mainstay
.
In terms of operation, it is recommended to focus on callbacks and multiple operations
.

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