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September 3 aluminum market morning review

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

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Aluminum market morning comment: bulls reduced their holdings and caused aluminum prices to pullback, but the continued weakening of the dollar index still caused prices to rise
.
Overnight, the London Stock Exchange three-month aluminum price closed up 0.
3% at $2701.
5 / ton
.
Domestic overnight trading opened low and volatile, and the main 2110 contract closed below 21310 yuan / ton
.

Aluminum City

In the morning, the spot market was active in the early stage, downstream and middlemen rebounded, and holders were reluctant to sell
.
However, as the price climbed, the transaction turned down
.
The mainstream trading price in Shanghai is around 21230 yuan / ton, which is about 50 lower than the futures
.
The mainstream transaction price in Guangdong is around 21450 yuan / ton
.

The shortage of coal supply has led to the lack of power supply and consumption, the electrolytic aluminum production capacity market continues to be limited, and the dual control of energy consumption has even suppressed the current operating capacity
.
The contradiction on the supply side of short-term electrolytic aluminum is still prominent, which continues to provide support
for aluminum prices.
Operationally, it is recommended to maintain the idea
of bargain hunting and long.

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