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During the eleventh period, Lun aluminum oscillated to the upside
.
On the first day of trading after the holiday, the internal metal market rose, the overall operating in a narrow range, Shanghai aluminum rose in the morning and then declined, giving up some of the gains, as of the close slightly up 0.
24%.
The external market was not as good as the internal market, and Lun aluminum rushed back down, turning from rising to falling, down 0.
54%.
On the macro front, the risk of U.
S.
debt default increased, the U.
S.
index fell sharply during the holiday, and then the two parties accepted an agreement to raise the debt ceiling in the short term, and the U.
S.
index stopped falling
.
Because Lun aluminum is priced in US dollars, the US index fell to a certain extent to Lidolen Aluminum
.
On the other hand, the higher-than-expected number of initial jobless claims in the United States in the week of October 2 made the market doubt whether Taper could be announced in November, and the same favorable aluminum price
was good.
From a fundamental point of view, the supply-side restriction is expected to remain unchanged, due to the impact of China's power rationing and dual-control policy on energy consumption, the output of high-energy-consuming industries such as electrolytic aluminum smelting is limited
.
In addition, under the influence of the epidemic, the recovery of global electrolytic aluminum production capacity has been blocked, and the inefficiency of shipping and the rising cost are also a major reason
for the limited supply of electrolytic aluminum.
On the demand side, global aluminum demand is still strong, and the global electrolytic aluminum fundamentals have not changed
.
In terms of inventories, as of October 6, LME aluminum stocks were 1.
198 million tons, down about 40,000 tons from September 30, with Klang warehouses contributing the main decline
.
