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Shanghai aluminum opened high on Tuesday, recovered part of the gains at the end of the day, and as of the close of three o'clock, the main 2006 contract of Shanghai aluminum closed at 11620, up 90, or 0.
78%, from the previous trading day; Driven by surrounding metals in the short term, aluminum prices may fall into signs of stabilization, but the foreign epidemic has not yet eased the trend, leaving uncertainty to the market, the medium-term bearish thinking remains unchanged, the main force of Shanghai aluminum temporarily pay attention to the range of 1.
15-11,800 range, it is expected that short-term spot aluminum prices will stabilize
.
Externally, the dollar index fell back and oil prices rose, Lun aluminum ran strongly, and the upper pressure was on $1500
.
At 15:00 Beijing time, the LME three-month aluminum was reported at $1486.
5 / ton, up $11.
5, or 0.
78%,
from the settlement price of the previous trading day.
In terms of the market, the spot trading price of Yangtze River was 11620-11660 yuan / ton, up 40 yuan; Guangdong South Reserve reported 11630-11690 yuan / ton, up 50 yuan; Hua reported 11730-11750 yuan / ton, up 50 yuan; The average domestic spot trading price is between
11600-12000 yuan / ton.
The middleman purchases on demand, the downstream replenishes normally, and the market transaction is
acceptable.
Market News:
1.
Affected by the epidemic, major buyers from Austria, Germany, Italy and Switzerland cut operations or even closed factories, and Bosnian aluminum processing company Feal cut production
in half.
2.
There are reports that due to the current low aluminum prices, Chinalco will consider maintaining some aluminum production facilities, or even shutting them down, and reducing alumina production
.
Overall, the supply of aluminum market may gradually move from loose to balanced or slightly tense, and the trend of Shanghai aluminum is stronger during the day, but the inventory inflection point has not yet appeared, and it is expected that the market will continue to fluctuate
.
