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October 24 aluminum market morning review

 Last Update: 2022-12-26
 Source: Internet
 Author: User

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Aluminum market morning comment: The sharp correction of the US dollar index on Friday gave metal prices a chance to rebound, and the LME three-month aluminum price turned from falling to rising, closing up 0.
07% to $2218.
5 / ton
.
Shanghai aluminum night trading also rebounded, the main 2211 contract closed above 18585 yuan / ton
.

Aluminum City

The performance of the spot market in the morning was flat, and the willingness of continuous merchants to ship for cash was strong, but there were few stocks downstream, and on-demand procurement was the mainstay
.
Trading among traders has also cooled significantly
.
The mainstream trading price in Shanghai is around 18,670 yuan / ton, which is about 40 higher than futures
.
The mainstream transaction price in Guangdong is around 18790 yuan / ton
.

At present, the change in supply and demand in the domestic market is not obvious, the output is slowly repaired, the consumption margin is improved, and the recovery is not outstanding
.
Under the disruption of the epidemic, poor delivery has led to a decrease in market arrivals and the dematerialization of explicit inventory
.
There is support below the short-term aluminum price, but there is a lack of upward drive, mainly volatile trend
.
Operationally, it is recommended that interval operations are the mainstay
.
Pay close attention to overseas disturbances
.

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