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November 11 aluminum market morning review

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

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Aluminum market morning comment: overseas continued to go to the warehouse once boosted the rebound of external aluminum prices, but the dollar index soared, suppressing price gains
.
The London Stock Exchange three-month aluminum price rose 0.
62% to $2578 / mt
on Wednesday.
Shanghai aluminum night trading has repeatedly fluctuated, and the market still lacks confidence
.
The main 2112 contract closed slightly below 18845 yuan / ton
.

Aluminum City

The overall transaction of the spot market in the morning was not satisfactory, and the holders saw the trend to dump goods, but the downstream was slightly cautious, mainly bargain hunting
.
Trading is affected
by market sentiment.
The mainstream trading price in Shanghai is around 18490 yuan / ton, which is about 120 lower than the futures
.
The mainstream transaction price in Guangdong is around 18610 yuan / ton
.

At present, domestic consumption tends to improve overall, production is still slightly declining, and fundamentals are stable and improving, but the price drive is limited
.
Falling costs and the sluggish property market have led to pessimistic consumption expectations, dominating the current market sentiment
.
Short-term aluminum price shock adjustment is the mainstay, and it is recommended to wait and see
in operation.

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