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May 31 aluminum market brief commentary

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Brief comment on the aluminum market, Thursday Shanghai aluminum main 1907 contract opened at 14285 yuan / ton in the morning, after the opening of aluminum prices tried to rush up to 14310 yuan / ton after being suppressed by bears turned down, bottoming out to the lowest level of the day 14280 yuan / ton, a small number of bulls entered the dip before noon, Shanghai aluminum bottomed out; In the afternoon, long funds withdrew, and aluminum prices fell again, finally closing at 14240 yuan / ton, down 70 yuan / ton, down 0.
49%.

During the day, the performance of Shanghai aluminum pulled back, and it is expected to fluctuate at 14200-14400 yuan / ton, which needs to continue to pay attention to the long and short situation and the macro situation
.

Aluminum City

South China Reserve South China aluminum ingot quotation 14210-14310 yuan, the average price of 14260 yuan, down 60 yuan, the current month premium of 90 yuan, the base price continues to weaken, downstream consumption weak procurement is not good, traders receive goods at a low price, the supply of goods is abundant, the overall trading is weak, the mainstream transaction price is concentrated between 14240-14250 yuan, which is -20~-10 yuan
higher than the average price of South China.

Nanchu East China aluminum ingots quoted 14170-14210 yuan, the average price was 14190 yuan, down 30
.
Yangtze River: 14180-14220, 14200 down 40
.
In the morning trading traders, traders inquired positively, but the actual transaction was less, during the second trading session, the holders shipped actively, the market circulation was abundant, and the spot quotation was lowered, but the receiver still received the goods at a low price, and the overall transaction was general
.
The transaction price is concentrated between 14160-14190 yuan, which is higher than the average price of South Reserve East China between -30~0 yuan
.

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