Changjiang aluminum price alu.ccmn.cn short comment: U.S. stocks rose for three consecutive days, and London aluminum closed up 0.26% overnight; the market continued to pay attention to the signal of the Fed’s slowdown in interest rate hikes, the price has strong support, the domestic supply pressure has slowed down and high costs have boosted, it is expected Aluminum is rising today.
[Aluminum futures market]U.S. stocks rose for three consecutive days. The U.S. mid-term elections are underway. Market investors are generally betting on political deadlock. The overall macro atmosphere has stabilized and warmed, and risk appetite has not changed much. To close Xiaoyang, the latest closing price was 2345 US dollars / ton, which closed up 6 US dollars or 0.26%, the trading volume was 13143 hands, a decrease of 89 hands, and the open interest was 573902 hands, a decrease of 1130 hands.eveningShanghai AluminumThe trend was ups and downs, and it closed higher in late trading. The latest opening price of the main month 2212 contract was 18,465 yuan / ton, up 60 yuan, or 0.33%.
The London Metal Exchange (LME) on November 8 reported the latest aluminum inventory of 564,375 metric tons, a decrease of 6,400 metric tons or 1.12% from the previous trading day, the largest decline since August.
Changjiang Aluminum Network News: On November 8, the spot aluminum price of Changjiang comprehensive spot AOO aluminum ingot was reported at 18,475 yuan/ton, up 120 yuan; the price of Chinalco East AOO aluminum ingot was reported at 18,470 yuan/ton, up 120 yuan. The market continues to pay attention to the signal of the Fed’s rate hike slowing down, prices have strong support, domestic supply pressure has eased and high costs have boosted, coupled with strong support from low inventories, the macro sentiment is optimistic, giving the market bulls confidence in stages. Aluminum is rising.
Industry news: According to foreign media on November 8, South32 reportedly suspended the electrolyzers at the Mozal aluminum smelter in Mozambique after an accident on Monday left two dead and one injured. South32 reported: “Reduction operations at Mozal’s Electrolysis Plant A have been suspended and an investigation into the incident is ongoing.
Changjiang Nonferrous Metals Network www.ccmn.cn Tel: 0592-5668838
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