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Aluminum market morning comment: macro sentiment improvement and continuous destocking value continued, last Friday the external aluminum price fluctuated
upward.
The LME three-month aluminum price rose 1.
07% to $2969.
5/mt
.
Shanghai aluminum fell back in the night session, and the highest value of the main 2206 contract was 21030 yuan / ton, closing at 20855 yuan / ton
.
The overall transaction volume of the spot market in the morning was general, and although the downstream procurement volume started to rebound as a whole, the strength was still limited
.
Cargo holders' enthusiasm for shipments is still high
.
The mainstream trading price in Shanghai is around 20,760 yuan / ton, which is basically the same
as that of futures.
The South China market is not trading as well as East China, and the mainstream transaction price in Guangdong is 20,750 yuan / ton
.
As domestic consumption continues to improve overall, it is still difficult to return to normal levels in the same period of previous years under current prevention and control measures, and the upward momentum of production remains strong, which will dampen the strength of the price rebound
.
Recent stimulus policies have been introduced, and their effectiveness has yet to be realized
.
Short-term aluminum prices are strongly volatile under the support of destocking, and it is recommended to take advantage of the dip and go long
.
Pay attention to the destocking situation and macro policies
.
