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Today's Shanghai aluminum main month 2203 contract, opening 21040 yuan / ton, the highest intraday 21280 yuan / ton, the lowest 20995 yuan / ton, settlement 21200 yuan / ton, the end closed at 21055 yuan / ton, down 145 yuan, down 0.
68%.
Today's Shanghai aluminum shock downward, overseas geopolitical risks heating up coupled with the domestic Spring Festival holiday approaching, downstream transactions are not ideal, aluminum prices short-term weak shock
.
Today's Lun aluminum volatility trend, LME three-month Beijing time at 15:01 at 3034 US dollars / ton, down 4 US dollars, or 0.
13%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 21140-21180 yuan / ton, up 40 yuan; Guangdong South Reserve reported 21140-21200 yuan / ton, up 40 yuan; Hua reported 21200-21240 yuan / ton, up 40 yuan
.
Holders actively adjust prices and shipments for cash, large households are not highly motivated to receive goods, the spot trading atmosphere is light, and the transaction is weak
.
On the macro front, the US dollar index continued to perform strongly in the last session, standing at 95.
9, the escalation of international geopolitical risks raised risk aversion in the global market, coupled with the market's expectations for the Fed's interest rate hike, the US dollar below the strong support, pay attention to this week's FOMC meeting
.
In terms of inventory, as of January 24, aluminum ingot social inventory is 750,000 tons, an increase of 01,000 tons from last week, near the Spring Festival around the seasonal decline in demand has become the main reason for the accumulation of aluminum ingot inventory, considering that it has entered the Spring Festival in the first two weeks, aluminum ingot inventory is likely to continue to increase in the next 1 month, putting pressure
on aluminum prices.
At present, the resumption of electrolytic aluminum production capacity continues to increase, but coupled with the winter environmental protection and the production restrictions of the Winter Olympics, the overall supply of electrolytic aluminum is not loose; On the other hand, approaching the Spring Festival, downstream processing enterprises gradually took a holiday in advance, and the demand side formed a large bearishness; On the cost side, the price of alumina remained low, the cost of electrolytic aluminum fell significantly from the previous high, and the profitability of aluminum plants increased significantly.
In addition, the upward momentum of the market has weakened, and short-term attention is risky
.
