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October 22 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 has been lower for several days, the external metal has gained upward momentum, and the three-month aluminum price on the London Stock Exchange closed up 0.
46% to $1848 / ton
overnight.
Shanghai aluminum opened high and volatile overnight, and the main 2011 contract closed at 14790 yuan / ton
.

Aluminum City

In the morning, the overall transaction of the spot market did not improve significantly, and the transaction was mainly between middlemen and traders, and downstream procurement was still limited
.
The mainstream trading price in Shanghai is around 14,930 yuan / ton, which is about 200 premiums over futures
.
The mainstream transaction price in Guangdong is around 14940 yuan / ton
.

The current macro sentiment is still optimistic, while the fundamentals of the domestic aluminum market are still slowly changing, inventories remain low, spot continues to rise high, short-term this situation is difficult to change, aluminum prices from which to get strong support
.
However, there is also pressure on the rapid rise in supply, and there is pressure above prices
.
Short-term aluminum prices or high volatility are the mainstay, and the operation recommendation range operation is the mainstay, focusing on arbitrage opportunities
with spread changes.

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