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Aluminum prices remain unchanged short-term expected to fluctuate strongly

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Last week, aluminum prices followed the futures price to rise rapidly, approaching 19,000, midstream traders actively shipped, downstream on-demand procurement
.

Aluminum prices

In the external market, the medium-term rally of London aluminum continued, after breaking through 2400, the upper resistance was around
2500.
Shanghai aluminum rally unchanged, after breaking through the recent consolidation range continued to rush up, upper resistance around
19200.

On the macro front, under the background of global monetary easing and gradual economic recovery, global inflation expectations have pushed up the prices of bulk industrial products as a whole
.
Biden's fiscal stimulus policy has gradually landed, and the 2 trillion yuan of infrastructure materials in the United States has a significant pulling effect
on the demand for industrial products.

From the perspective of industry fundamentals, Hulun aluminum inventory slowly declined, downstream demand continued to improve, and supply and demand continued
.
The market continues to speculate about the impact of carbon neutrality policies on industrial products, and aluminum prices as a whole maintain an upward trend
.
From the perspective of futures, Shanghai aluminum maintained its rally unchanged and faced the 19200 long-term resistance area
.
Short-term aluminum price volatility is mainly
strong.

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