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Aluminum market morning comment: The Fed did not raise interest rates more than expected, the dollar index fell sharply, and most metals rebounded
.
The LME March aluminum price closed up 1.
95% at $2,985/mt, erasing some of Tuesday's sharp losses caused by economic downturn concerns affecting consumption and expectations of a Fed rate hike
.
Before the holiday, there was still a stock replenishment in the downstream of the domestic spot market, but the continued merchants actively shipped and the market circulation was sufficient
.
The mainstream trading price in East China is around 20,780 yuan / ton, which is about 50 lower than that of futures
.
The mainstream transaction price in Guangdong is around 20830 yuan / ton
.
The negative impact of the epidemic on the domestic economy has become more and more obvious, coupled with the uncertainty caused by overseas geopolitics, the consumption prospects of the aluminum market have been affected
.
Recently, the domestic epidemic has been gradually controlled, and enterprise production has gradually recovered, but it is still difficult to quickly return to the normal peak season level
.
Short-term macro sentiment fluctuates greatly, and makes aluminum prices fluctuate repeatedly
.
In the short term, it is recommended to wait
and see.
