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Shanghai aluminum afternoon review on September 19

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

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aluminum

pressure volume

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Overnight, the main contract of Shanghai aluminum opened high at 14520 yuan / ton, after the opening aluminum price continued to be weak under pressure to leak, the low treatment of 14435 yuan / ton, then the low narrow range of shock closed at 14455 yuan / ton, Shanghai aluminum index position increased by 926 lots to 693,000 lots, it is expected that today's Shanghai aluminum main contract shock running at 14430-14530 yuan / ton, spot discount 20 yuan / ton to premium 20 yuan / ton
.

Shanghai aluminum

The overall transaction volume of the morning spot market is limited, the willingness of middlemen and downstream to receive goods is low, and the mainstream transaction price in Shanghai is around 14420 yuan / ton, which is about 10 discount to futures near-month contracts
.
The mainstream transaction price in Guangdong is 14570 yuan / ton
.

The easing of heating production expectations caused the rise of alumina to lose momentum, and the commissioning of new capacity also offset some of the expectations of tight supply, and the cost of electrolytic aluminum temporarily lost momentum to climb further
.
At present, the domestic primary aluminum market is weak in supply and demand, and the expected weakening of production restrictions in the heating season and trade frictions continue to put pressure on aluminum prices, but due to the support of high costs, the downward space for prices may be limited
.
Operationally, it is recommended to stay on the sidelines
.

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