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September 19 aluminum market morning review

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

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Aluminum market morning comment: macro pessimism suspended, last Friday the decline in the external aluminum price narrowed, LME three-month aluminum price fell 1.
38% to 2283 US dollars / ton
.
Domestic overnight trading opened high and rebounded, and the main 2210 contract closed above 18945 yuan / ton
.

Aluminum City

In the morning, the spot market cooled down significantly, and holders actively shipped, but the downstream turned to just need to purchase, and traders and middlemen were cautious
.
The mainstream trading price in Shanghai is around 18,860 yuan / ton, which is about 50 lower than the futures discount
.
The mainstream transaction price in Guangdong is around 18850 yuan / ton
.

Domestic production has declined again due to the large-scale reduction in Yunnan, and although consumption has not improved significantly, there is an expectation of marginal improvement, which will make explicit stocks continue to dematerialize and give strong price support
.
However, with the Fed's interest rate meeting just around this week, market sentiment around the intensity of interest rate hikes is expected to continue to fluctuate sharply, which in turn will affect short-term prices
.
In terms of operation
, it is still recommended to take advantage of the idea of bargain hunting and long.

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