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September 20 aluminum market morning review

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

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Aluminum market morning comment: The Fed interest rate meeting is about to superimpose weak consumption concerns, overnight aluminum prices continued to be weak, LME three-month aluminum prices fell 1.
49% to $2249 / ton
.
Shanghai aluminum opened low and rebounded overnight, and the main 2210 contract closed slightly above 18735 yuan / ton
.

Aluminum City

The overall performance of the spot market in the morning was not good, and the enthusiasm for downstream receiving goods decreased significantly compared with last week, with on-demand procurement as the mainstay, and middlemen and traders also showed caution
.
The mainstream trading price in Shanghai is around 19,760 yuan / ton, which is about 40 lower than that of futures
.
The mainstream transaction price in Guangdong is around 16720 yuan / ton
.

The news of Yunnan's production cuts has declined, but the actual impact on production will gradually appear, and the shutdown period may be long, and its negative impact on production will continue
.
Although the current overall consumption is still not seen, there is a marginal improvement momentum
.
Supply and demand fundamentals have improved in stages, and low inventories have significantly supported prices
.
Operationally, it is recommended to focus on dip bargaining and multi-operation
.
At the same time, it is necessary to be wary of sharp price fluctuations
caused by macro sentiment fluctuations.

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