The buyer's sentiment turned weak, and the spot did not follow the aluminum higher

The London Metal Exchange (LME) base metal mostly fell on Monday. Three-month aluminum fell by 4 US dollars to close at 1,810. Shanghai Aluminum Futures Exchange regained its current rally this month, and the current contract is currently reported at around 15,850 yuan/ton. Local spot prices did not change much today, both parties were more cautious, and market sentiment turned weak. Although aluminum increased during the period, due to the fall in aluminum prices yesterday afternoon, many middlemen’s inventories on hand failed to sell and remained on the market so far that the spot price did not follow the market trend. In the morning, there were few quoted prices, and aluminum was stable in the later period. The spot price was slightly better than yesterday's tail market. Today's trading range is between 15940-16060 yuan/ton. The recent strong US dollar recovery has caused some pressure on international aluminum prices, which will further reduce the export profits of domestic manufacturers. It is expected that the aluminum export volume will continue to decline in the later period, and the domestic market will face greater supply pressure. The new year aluminum market is not optimistic. As many manufacturers rushed to Guangdong before the Spring Festival shipments, the arrival of goods in recent days has improved. Some of the small factories' goods have flown to the market, and they have also suppressed the spot market. It is expected that aluminum prices will remain stable at around 16,000 yuan/ton in the later period. From January 1 to January 10, the total capacity of the South Reserve was 12,590 tons, with a total inventory of 14,237 tons.

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