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Aluminum market morning comment: Stimulated by China's lower loan interest rate and other strong economic stimulus signals, overnight external metals closed up across the board, and the three-month aluminum price on the London Stock Exchange rose 2.
03% to 3115 US dollars / ton
.
Shanghai aluminum night trading was also strong, with the main 2203 contract closing above 21700 yuan / ton
.
The spot market transactions in East China and South China showed certain differences, East China performed lightly, and downstream more low-pressure purchases
.
There is still a demand
for long-term order stocking in the South China market.
The mainstream trading price in Shanghai is around 21350 yuan / ton, which is about
40 higher than that of futures.
The mainstream transaction price in Guangdong is around 21360 yuan / ton
.
After the central bank lowered the lending rate, it lowered the mortgage interest rate, and the strong economic stimulus signal stimulated the bulls
' sentiment to rise.
At present, the fundamentals of the domestic aluminum market are seasonally weakening, consumption is declining, production is rising steadily, and explicit inventory has entered the warehouse stage
.
In the short term, the bullish atmosphere is strong under the background of favorable policies, which promotes the strengthening of aluminum prices, but it is necessary to be cautious and overly optimistic
.
It is not recommended to chase higher
operationally.
Watch for the situation and the signals
the Fed will release next week.
