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October 19 aluminum market morning review

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

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Aluminum market early comment: natural gas prices have fallen for several days, and overseas aluminum market supply concerns have eased
slightly.
Overnight external aluminum prices adjusted at a high level, and the three-month aluminum price on the London Stock Exchange fell 0.
16% to $3170 / ton
.
Domestic night trading also pulled back, and the main 2111 contract closed at 24305 yuan / ton
.

Aluminum City

In the morning, the spot market was still cold, with holders selling vigorously, and downstream receipts were scarce
.
The mainstream trading price in Shanghai is 24100 yuan / ton, which is about 160 lower than the futures
.
The mainstream transaction price in Guangdong is around 24120 yuan / ton
.

Downstream consumption continues to be suppressed by rising aluminum prices and power curtailments, while the decline in production has slowed down and inventories have risen
.
The library has some pressure on short-term aluminum prices, but the cost support is strong
.
The price of thermal coal continues to soar, and the cost
of electrolytic aluminum continues.
Short-term cost impact dominates market sentiment, making aluminum prices easy to rise and fall, but the pressure on the warehouse is increasing
.
It is not recommended to chase higher
.

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