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May 19 aluminum market morning review

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Aluminum market morning comment: the US dollar continued to weaken, boosting metal prices, but the bulls' profit understanding made the overnight external aluminum price shock correction, London Stock Exchange three-month aluminum price closed at 2466 US dollars / ton, down 1.
22%.

Shanghai aluminum night trading also fluctuated to close lower, the main 2107 contract closed at 19595 yuan / ton
.

Aluminum City

In the morning, the overall trading change in the spot market was not obvious, and the downstream was still purchased on demand, and the willingness of holders to ship was strong
.
The mainstream trading price in Shanghai is around 19,850 yuan / ton, which is about 20 percent lower than the futures discount
.
The mainstream transaction price in Guangdong is around 19900 yuan / ton
.

At present, the market fundamentals have not changed significantly, consumption is still good, the contribution of new investment and resumption of production capacity is lagging, and the recent power cuts in Yunnan have slowed
down local production.
Imports have increased recently, but the replenishment of domestic supply is limited, and inventories continue to deteriorate, which has strong support for prices
.
However, the impact of short-term capital fluctuations cannot be ignored
.
Operationally, it is recommended to maintain a dip-hunting operation
.

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