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July 8 aluminum market morning review

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Aluminum market morning comment: overnight external aluminum prices first fell and then rose, and the three-month aluminum price on the London Stock Exchange finally closed flat at 1635 US dollars / ton
.
Shanghai aluminum night trading is weak, the main 2008 contract once fell to 13945 yuan / ton, closed at 13995 yuan / ton
.

Aluminum City

In the morning, the overall transaction of the spot market did not improve significantly, the middlemen lacked enthusiasm to receive goods, and the downstream receiving volume was also limited
.
The mainstream trading price in Shanghai is around 14410 yuan / ton, which is about 30 higher than the futures
.
The mainstream transaction price in Guangdong is around 14450 yuan / ton
.

With the increase in supply and the weakening of consumption, the fundamentals of the domestic primary aluminum market have weakened, and the pressure on aluminum prices has become more and more obvious
.
However, due to the high domestic optimism, the continuous decline in futures inventories and the deep discount of futures far month contracts, it is increasingly unfavorable
for shorting.
Operationally, it is recommended to temporarily focus on interval intertemporal arbitrage
.

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