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On Tuesday, the Shanghai aluminum main 2005 contract opened at 11465 yuan / ton
in the morning.
After the opening fell slightly, then rebounded slightly, and finally closed at 11435 yuan / ton, down 30 yuan / ton
on the day.
Yesterday's financial market rally, is expected to have a stimulating effect on today's market, Shanghai aluminum main shock running at 11400-12000 yuan / ton, spot pair in the month in the discount of 60 to 40 yuan / ton
.
The price of Chinalco East China AOO aluminum ingots was 11230 yuan / ton, down 10 yuan
.
The Fed introduced unlimited QE, the most aggressive intervention to date; China's epidemic prevention effect is significantly conducive to economic recovery, but the fundamental support of the aluminum market is limited, and it is expected that spot aluminum prices will rise
slightly today.
Due to the sharp decline in aluminum prices, domestic aluminum plants have announced maintenance and shutdown, according to institutional statistics, the production capacity has reached more than 300,000 tons, and the excess magnitude will be narrowed, but due to the continuous overseas epidemic, consumption expectations continue to decline, and aluminum prices need to continue to be low to promote smelters to further reduce production
.
In the absence of an inflection point in terms of the epidemic, consumption continues to weaken and the global economic pessimism is expected to continue to put pressure on aluminum prices, so it continues to be short on aluminum prices
.