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On Monday, the main monthly 2301 contract of Shanghai aluminum opened at 18,755 yuan / ton, the highest intraday was 18,820 yuan / ton, the lowest was 18,510 yuan / ton, the settlement was 18,745 yuan / ton, and the end closed at 18,540 yuan / ton, down 205 yuan, or 1.
09%.
In the external market, the high level of London aluminum retreated, and the LME reported at 2384 US dollars / ton at 15:01 Beijing time for three months, up 5 US dollars, or 0.
19%,
from the settlement price of the previous trading day.
On the macro front, the focus was on the Fed's December interest rate decision, which eventually slowed the pace of interest rate hikes as market expected, raising interest rates by 50BP in December but also raising the final target rate
.
The European Central Bank has also followed the pace of slowing the pace of interest rate hikes, but will reduce its balance sheet and maintain strict tightening
in the future.
It should be said that the market's expectation of a slowdown in the Fed's interest rate hike has basically been fulfilled, and a series of adverse data began to appear in the US economy, which has raised the market's fears of a future recession, so copper prices continue to come under pressure and decline
.
On the domestic front, the economic data for November was released one after another, as expected by the market, affected by the epidemic, the overall data continued to fall, which also made the market's confidence in the future fall.
In terms of the market, the spot trading price of Yangtze River was 18720-18760 yuan / ton, down 100 yuan, and the premium was 100-140; Guangdong spot 18690-18750 yuan / ton, down 20 yuan, premium 70-liter 130; Hua reported 18770-18810 yuan / ton, down 100 yuan
.
On Monday, aluminum prices continued to fall, shippers began to have a slight price sentiment, downstream procurement enthusiasm is general, and receivers still reserve inventory
on demand.
Overall transaction performance was mediocre.
During the day, Shanghai aluminum weak operation, macro profits are more net, the market atmosphere has weakened, and domestic aluminum prices are significantly dragged down by the off-season effect, and the Spring Festival holiday is approaching, downstream processing enterprises will take a holiday in advance to weaken consumption in advance, Shanghai aluminum showed a pullback trend, falling below 10,000.
