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Aluminum market afternoon evaluation on December 23

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Aluminum market afternoon comment: the dollar continued to weaken, overnight London aluminum closed up $53; The recent European energy crisis has triggered higher aluminum prices, driving non-ferrous metal market sentiment, superimposed aluminum ingot destocking pace accelerated, and aluminum may rise
today.

Aluminum City

Coal fell slightly yesterday, Lun aluminum opened high and rose to close Changyang, closing at $2822, Shanghai aluminum opened sharply higher overnight, and the shock closed small negative, closing at 20245
.
Shanghai aluminum trading positions are rising, and the market sentiment is optimistic
.
Policy factors have led to inactive trading of Shanghai aluminum, but the fundamentals have improved, and the future market may continue to fluctuate upward with Lunaluminum aluminum
.
Upper pressure 22000, lower support 18500
.

In the past two weeks, the pace of aluminum ingot destocking has accelerated, and aluminum rods have also changed from accumulation to destorage, and the increase in the operating rate of downstream enterprises confirms that most enterprises are currently in the emergency rush stage
at the end of the year.
Most of the funds at the end of the year are cautious, and the possibility of a sharp market in the near future is low
.
During the year, there are few new production plans in China, the margin of production reduction is also limited, the news at both ends of supply and demand is relatively transparent, and there is no bright spot for the time being, and the destocking accelerates the bottom
of aluminum prices.

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