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Shanghai aluminum afternoon review on July 15

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

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Yesterday, the main 2008 contract of Shanghai aluminum opened slightly lower at 14,700 yuan / ton in the morning, fell more than 200 points at the opening, and rebounded after stabilizing around 14,500 yuan / ton; In the afternoon, it fell again from 14600 yuan / ton, the intraday low was 14460 yuan / ton, and finally closed at 14485 yuan / ton, erasing most of the previous day's gains
.

The main force of Shanghai aluminum opened slightly higher at 14520 yuan / ton in overnight trading, then fell nearly 100 yuan to 14430 yuan / ton, most of the time range fluctuated in a narrow range, and closed at 14450 yuan / ton
at the end of the day.
Macro bullish sentiment is strong, the weakening of the demand side has not yet been fully reflected in inventory, the fundamentals support aluminum prices, it is expected that the main operating range of Shanghai aluminum today is 14300-14700 yuan / ton
.

The price of Chinalco East China AOO aluminum ingots was 14,900 yuan / ton, down 500 yuan
.
Overseas demand is sluggish, China's aluminum exports in June fell to a new low since February last year, domestic downstream demand entered the traditional off-season, while the inflection point of aluminum ingot social inventory has appeared, spot tension is weakening, follow-up inventory may continue to accumulate, it is expected that spot aluminum prices will continue to decline today
.

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