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November 4 aluminum market morning review

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

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Aluminum market morning comment: the US dollar index fell sharply, pushing up metal prices, overnight external aluminum prices reached a new high, the highest three-month aluminum price on the London Stock Exchange was 1907 US dollars / ton, closing at 1893 US dollars / ton, up 1.
18%.

Shanghai aluminum night trading gap high, the highest value of 14960 yuan / ton, closed at 14830 yuan / ton
.

Aluminum City

The morning spot market trading is relatively active, mainly middlemen and traders, downstream fear of heights, limited
receipts.
The mainstream trading price in Shanghai is around 15140 yuan / ton, which is about 160 premiums compared with futures
.
The mainstream transaction price in Guangdong is around 15,000 yuan / ton
.

At present, domestic production is rising, but the increase in aluminum ingot supply is still small, and it is difficult to change
the pattern of tight spot supply.
As a result, short-term aluminum prices are prone to rise and fall
.
However, considering that high prices suppress some consumption, and the impact of external uncertainties such as the US election on market sentiment cannot be ignored
.
Short-term prices exacerbate volatility, and it is recommended to wait and
see.

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