Morning situation of Aluminum City on November 1, 2021

[cable network news] aluminum Market Morning comment: the US dollar index soared, depressing the external aluminum price. The price of three-month aluminum on the London Stock Exchange fell 0.55% to US $2733.5/ton last Friday. Shanghai aluminum opened low and went high at night, and the main 2112 contract closed higher than 20470 yuan / ton.

In the morning, the overall transaction in the spot market turned light, and the sharp price fluctuation made the receiving party cautious, while the supply was abundant, mainly downstream bargain hunting. The mainstream transaction price in Shanghai is around 20200 yuan / ton, about 40% higher than that of futures. The mainstream transaction price in Guangdong is around 20230 yuan / ton.

Domestic coal prices are still regulated by policies, and market sentiment is still affected. However, at present, the domestic supply and demand is basically in a good trend, the consumption is improved, the output is still suppressed, and the inventory is expected to peak. Later, with the coal price falling back to a reasonable level, the sentiment of the aluminum futures market will gradually improve. With the support of basically good orientation, the aluminum price is expected to stabilize and rebound. In terms of operation, it is recommended to try more bargain hunting.