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November 17 aluminum market morning review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Aluminum market morning comment: Buoyed by strong Chinese economic data and a stronger US dollar, most of the outer metals closed up overnight, and the three-month aluminum price on the London Stock Exchange rose 0.
96%, up $1953 / ton
.
Shanghai aluminum dived after opening high overnight, and bulls took profits causing the price to pullback, and the main 2012 contract closed below 15355 yuan / ton
.

Aluminum City

The morning spot market remains active, with strong willingness of holders to ship, and the enthusiasm of middlemen to receive goods is not reduced, and downstream purchases
are on demand.
The mainstream trading price in Shanghai is around 15,670 yuan / ton, which is about 20 premiums over futures
.
The mainstream transaction price in Guangdong is around 15670 yuan / ton
.

At present, the macro optimism at home and abroad is strong, the domestic fundamentals have not shown signs of weakening, the explicit inventory continues to deteriorate, and the spot trade is still hot, showing a trend of both supply and demand
.
Under the state of low inventory, it is difficult for aluminum prices to fall sharply for the time being, and it is recommended to pull back more operations
.

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