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Shanghai aluminum afternoon review on September 18

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

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Overnight Shanghai aluminum main contract opened at 14480 yuan / ton, after the opening due to the lack of new news guidance, aluminum price trend is really light, around the daily moving average narrow range oscillation, the operating range of 14455-14505 yuan / ton, but also shows the hesitation of funds on the current Shanghai aluminum attitude, Shanghai aluminum index position decreased by 58938 hands to 694,000 lots, intraday also pay attention to the reaction of the market in the face of US tariff events, it is expected that the main contract of Shanghai aluminum fluctuates at 14440-14550 yuan / ton, After delivery, the spot discount is 60-20 yuan / ton
.

Shanghai aluminum

In terms of the market, the overall transaction of the spot market in the morning was relatively light, and the holders actively shipped, but the middlemen were cautious, and the downstream on-demand procurement was the mainstay, and the mainstream transaction price in Shanghai was around 14460 yuan / ton, which was basically flat with the futures
.
The mainstream transaction price in Guangdong is about
14600 yuan / ton.

The domestic market is currently in a situation of supply and demand, and it is difficult for consumption to improve significantly for the time being, and it is difficult for supply to have a sharp correction
.
However, the recovery of consumption in the later period is still expected, and inventories maintain a downward trend
.
The current market is mainly affected by external factors, among which the trade situation is more affected, which is therefore depressed in the short term, but considering that costs remain high, the downside of prices may be limited
.
Operationally, it is recommended to wait and see for
the time being.

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