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Aluminum market morning comment: The US dollar index continues to strengthen, and the external aluminum price is under pressure
.
Overnight LME three-month aluminum prices fell 0.
21% to $2388.
5/mt
.
Shanghai aluminum rebounded after opening low in the night session, and still closed slightly lower at the end of the day, with the main 2209 contract closing at 18550 yuan / ton
.
In the morning, there were signs of weakening in spot market trading, production restrictions led to smelters and processing plants reducing production, the market circulation was abundant, downstream on-demand procurement, middlemen and traders performed slightly cramped
.
The mainstream trading price in Shanghai is around 18,580 yuan / ton, which is about 10 lower than that of futures
.
The mainstream transaction price in Guangdong is around 18390 yuan / ton
.
The central bank has cut loan interest rates, especially medium and long-term loan interest rates, which is conducive to stimulating housing loan demand, but the short-term real estate market lacks confidence and is difficult to improve
significantly.
The current aluminum market has not yet got rid of the off-season, and consumption is weak
.
However, due to the high temperature power cut, the scale of electrolytic aluminum production reduction has expanded, which has some support
for the current price.
Short-term aluminum prices fluctuate repeatedly, and it is recommended to wait and see in the short term
.
