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Aluminum market morning comment: US inflation has fallen, the US dollar has weakened sharply under the expectation of interest rate hikes and force reductions, and the price of main metals has strengthened
.
However, overnight aluminum prices did not react quickly, as consumption fears weakened, and then followed by other metals
.
The LME three-month aluminum price closed up 1% at $2496.
5/mt
.
Shanghai aluminum night trading gap after a high opening quickly retreated, the main 2209 contract up to 18880 yuan / ton, the end of the slightly closed above 18715 yuan / ton
.
Spot market transactions are still poor, and rising prices have dampened downstream procurement enthusiasm
.
Traders undercut the purchase and deliver long orders
.
The mainstream trading price in Shanghai is around 18,800 yuan / ton, which is about 120 yuan discount compared with futures, and the discount range is expanded
.
The mainstream transaction price in Guangdong is around 18580 yuan / ton
.
Short-term small-scale production cuts and macro sentiment have been reversed from the pessimism in the previous period to a certain extent to support aluminum prices, but the obvious inventory is obvious, consumption is weak, and the pressure on supply and demand fundamentals still exists
.
Therefore, short-term aluminum prices maintain a volatile trend, and it is recommended to wait and see for
the time being.
Supply pressures in the medium term cannot be ignored
.
