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Aluminum market morning comment: The dollar index strengthened sharply as Fed officials released another hawkish signal, overnight the outer market metal generally came under pressure and declined, aluminum prices bucked the trend
.
The continued compression of the domestic supply side fuels bullish sentiment
.
The three-month aluminum price on the London Stock Exchange rose to $2932/ton
.
Domestic night trading also rebounded, and the Shanghai aluminum main 2111 contract reached a maximum of 23200 yuan / ton, closing at 23035 yuan / ton
.
In the morning, the overall transaction of the spot market was poor, and the downstream wait-and-see mood was strong, and holders rushed to ship
.
The mainstream trading price in Shanghai is around 22480 yuan / ton, which is about 50 lower than the futures
.
The mainstream transaction price in Guangdong is around 22470 yuan / ton
.
Short-term power has a great impact, and power rationing is
intensifying.
The sharp decline in the output of short-term downstream processing enterprises has led to a rise in inventory, which has certain pressure on aluminum prices, but due to the high elasticity of downstream production and the long recovery cycle of electrolytic aluminum production capacity, the supply of primary aluminum will inevitably return to the shortage pattern
after the power shortage is alleviated in the later period.
Operationally, it is recommended to wait and see before the holiday and pay attention to the accumulation after
the holiday.
