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September 15 aluminum market morning review

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

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Aluminum market morning comment: US inflation remained high in August, but the core CPI growth fell back and fell short of market expectations, which weakened the dollar index for a while, but then the dollar index recovered its losses
.
Metals extended their decline overnight
.
The London Stock Exchange three-month aluminum price fell 1.
97% to $2831/mt
.
Shanghai aluminum night trading continued to pullback, the main 2110 contract closed at 22060 yuan / ton
.

Aluminum City

In the morning, the spot market transaction continued to weaken, the downstream wait-and-see was the mainstay, and the middlemen rarely purchased
.
The mainstream trading price in Shanghai is around 22830 yuan / ton, which is about 50 lower than that of futures
.
The mainstream transaction price in Guangdong is around 22840 yuan / ton
.

The current market sentiment has turned cautious, superimposed on the early rise too fast after the bulls left the market, aluminum prices have pulled back
sharply.
However, the fundamental support has not changed, and the contradictions on the supply side are difficult to solve during the year, and the uncertainty is still large
.
Operationally, it is recommended to wait and see for the time being, and wait for the long opportunity
after the pullback.

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