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November 20 aluminum market morning review

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

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Aluminum market morning comment: overnight external aluminum prices fluctuated at a high level, and the three-month aluminum price on the London Stock Exchange closed slightly below $1989 / ton
.
Shanghai aluminum night trading repeatedly fluctuated, the main 2012 contract closed above 15810 yuan / ton
.

Aluminum City

In the morning spot market, the overall shipment is more, the receipt is small, the middleman wait-and-see mood is strong, and the downstream only purchases
on demand.
The mainstream trading price in Shanghai is around 15,900 yuan / ton, which is about 160 higher than futures
.
The mainstream transaction price in Guangdong is around 15890 yuan / ton
.

Domestic consumption remained in a good state, and there was no obvious sign of
weakening.
Electrolytic aluminum production continues to rise, and explicit inventories show signs of stopping, but it remains to be seen
.
The pattern of short-term spot tightness has not been reversed, and prices are difficult to fall
.
Operationally, it is recommended to wait and see for the time being, and enter the market after the
inventory change trend is clear.

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