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October 23 aluminum market morning review

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

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Aluminum market morning comment: overnight external metals weakened
due to the strengthening of the US dollar.
The London Stock Exchange three-month aluminum price rebounded late in the day and closed flat at $1848/mt
.
Shanghai aluminum night trading continued to fluctuate in a narrow range, and the main 2011 contract closed flat at 14725 yuan / ton
.

Aluminum City

In the morning, the overall transaction of the spot market was relatively stable, the intermediaries traded relatively actively, and the downstream on-demand procurement
.
The mainstream trading price in Shanghai is around 14950 yuan / ton, which is about 200 premiums compared with futures
.
The mainstream transaction price in Guangdong is around 14990 yuan / ton
.

The short-term low inventory situation in the domestic market will not change significantly, and production will continue to climb, but the increase in aluminum ingot supply is limited, and consumption is generally stable
.
The tight spot pattern supports the strong basis and futures prices are supported
.
Short-term aluminum prices are mainly volatile at a high level, and it is recommended to operate in the range, focusing on intertemporal arbitrage opportunities
.

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