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March 7 aluminum market morning review

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

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Aluminum market morning comment: Russia-Ukraine tensions continue, crude oil prices continue to soar, and the outer metal rose
across the board on Friday.
The three-month aluminum price on the London Stock Exchange was 1.
96% to $3840.
5/mt
.
Domestic night trading opened low and high, and the main 2204 contract closed slightly above 23595 yuan / ton
.

Aluminum City

In the morning, the spot market transaction improved, and the enthusiasm of downstream receiving goods increased significantly after the price pullback, and the middlemen were also optimistic about the replenishment demand in the future market, but the market supply was abundant, and the transaction was still
mainly discounted.
The mainstream trading price in Shanghai is around 23430 yuan / ton, which is about 100 lower than the futures
.
The mainstream transaction price in Guangdong is around 23420 yuan / ton
.

Domestic supply and demand are expected to improve, and explicit inventory has slowed down
.
The current situation in Russia and Ukraine is still the main factor
influencing market sentiment.
Under the condition that Russian aluminum exports were blocked and European electricity prices soared again, causing supply concerns to increase, external aluminum prices remained strong and drove domestic aluminum prices to strengthen
.
Operationally, it is recommended that the short-term is mainly
based on pullback buying.

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