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November 10 aluminum market morning review

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Aluminum market early comment: natural gas prices fell sharply, costs fell, overnight external metals generally retreated, London Stock Exchange three-month aluminum prices fell 1.
46% to 2562 US dollars / ton
.
Pessimistic expectations for the real estate market made the Shanghai aluminum night trading volatile downward, and the main 2112 contract closed below 18760 yuan / ton
.

Aluminum City

The overall transaction of the morning spot market is general, with holders actively shipping, downstream receiving goods more cautiously, and on-demand
procurement.
The mainstream transaction price in Shanghai is around 18,930 yuan / ton, which is about
60 percent lower than other discounts.
The mainstream transaction price in Guangdong is around 19040 yuan / ton
.

At present, domestic consumption has improved in stages, and the operating rate of downstream processing plants has generally rebounded, while output has still declined slightly, inventories have peaked and declined, and supply and demand fundamentals have improved in stages
.
However, the current market is pessimistic about the real estate market expectations and has a negative feedback
on prices.
Short-term destocking has supported prices, but consumption expectations are not good, and prices are unlikely to rebound
significantly.
Short-term aluminum price shock adjustment is the mainstay
.
It is recommended to wait and see
.

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