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September 4 aluminum market morning review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Aluminum market morning comment: The market panic index soared, U.
S.
stocks fell sharply, and most of the metals fell overnight
.
The London Stock Exchange three-month aluminum price closed down 0.
81% at $1776/mt
.
Domestic night metals were also dragged down, and the Shanghai aluminum main 2010 contract was as low as 14180 yuan / ton, closing at 14270 yuan / ton
.

Aluminum City

The transaction volume of the spot market in the morning increased significantly, and the performance of the South China market was more obvious
.
Cargo holders have clearly shown strong prices, and downstream receipts have also increased
.
The mainstream trading price in Shanghai is around 14550 yuan / ton, which is about 10 higher than futures
.
The mainstream transaction price in Guangdong is around 14630 yuan / ton
.

The current market sentiment is influenced by external factors such as macro and dominates price movements
.
Fundamentals are still in a slow process of change, production is accelerating, consumption season expectations are still in place, inventories are still not dragging down the low, long and short are intertwined
.
Aluminum prices are temporarily dominated
by market sentiment triggered by external factors.
The fundamentals do not support the price drop for the time being, and it is recommended to maintain range operation in the short term
.

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