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May 18 aluminum market morning review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Aluminum market morning comment: The US dollar index continues to weaken, giving the external aluminum price a chance to
rebound.
Overnight, LME three-month aluminum prices closed up 1.
66% at $2,882/mt
.
Shanghai aluminum opened high and low overnight, and the main 2206 contract closed above 20405 yuan / ton
.

Aluminum City

In the morning, the overall transaction volume of the spot market became weak, the trading activity in the East China market was low, and the holders worked hard to ship, but the downstream receiving was not
good.
The mainstream trading price in Shanghai is around 20,430 yuan / ton, and the discount for futures is about
20.
Early trading in the South China market was acceptable, but as prices fell, receivers turned cautious
.
The mainstream transaction price in Guangdong is around 20450 yuan / ton
.

At present, domestic consumption still needs to be further recovered, the drag on real estate market consumption is still obvious, and the automobile market is temporarily difficult to recover to normal levels
.
However, the overall consumption is constantly improving, although there is pressure to increase the supply side, but the inventory has not exceeded expectations and entered the destocking stage, and the price below the support is strong
.
Operationally, it is recommended to operate on the short-term dip and the
long-term.

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