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    Home > Chemicals Industry > New Chemical Materials > August 16 aluminum market morning review

    August 16 aluminum market morning review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Aluminum market morning comment: the US dollar index strengthened sharply, crude oil prices fell sharply, overnight external metals continued to decline, LME three-month aluminum prices as low as $2380 / ton, closing at $2403.
    5 / ton
    .
    Shanghai aluminum opened low and dived after the night, but then rebounded, closing slightly below 17930 yuan / ton
    at the end of the day.

    Aluminum City

    In the morning spot market trading is still light, holders lowered their quotations, but downstream on-demand procurement is the mainstay, traders participate cautiously, and the overall transaction is insufficient
    .
    The mainstream trading price in Shanghai is around 18210 yuan / ton, which is about 200 yuan discount to futures
    .
    The mainstream transaction price in Guangdong is around 18100 yuan / ton
    .

    The terminal real estate market continued to be weak, and the end consumer market such as automobiles in the off-season also performed poorly, which made the overall consumption performance poor
    .
    The poor domestic economic data in July exacerbated pessimistic market expectations
    .
    Although Sichuan's industrial power cuts have recently led to a certain degree of local production reduction, the impact on overall output is relatively limited
    .
    Weak fundamentals combined with economic downturn concerns have weakened short-term aluminum prices again
    .
    Operationally, it is recommended to take short positions at high prices
    .
    Pay close attention to whether the scale of production cuts will be further expanded
    .

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