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April 12 aluminum market morning review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market morning comment: the US dollar index reached a new high and China's consumption was suppressed by the epidemic control, and the price of aluminum fell sharply overnight
.
London Stock Exchange III expected aluminum prices to fall 3.
57% to $3251.
5 / ton
.
Shanghai aluminum night trading also continued to weaken, the main 2205 contract closed below 20670 yuan / ton
.

Aluminum City

The morning spot market transaction did not improve significantly, and the downstream receiving improved slightly, but the overall wait-and-see mood of the market was strong
.
The mainstream trading volume in Shanghai is around 21200 yuan / ton, which is about 50 percent lower than the futures
.
The mainstream transaction price in Guangdong is around 21250 yuan / ton
.

At present, it is difficult to significantly improve consumption under the strict control of the domestic epidemic, but the epidemic has a short-term effect
on consumption.
The epidemic has increased the downward pressure on the economy, and economic stimulus may be increased, which has a certain role
in promoting consumption after the epidemic.
Aluminum prices will remain weak
amid weaker short-term fundamentals and weaker overseas drivers.
It is not recommended to chase short in operation, and it is appropriate
to rebound to test the short.

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