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April 13 aluminum market afternoon review

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

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Aluminum market afternoon comment: oil prices rebounded to soar to the 100 yuan mark, and Lun aluminum closed up 0.
69% overnight; Lun aluminum inventory continued to decline, the domestic epidemic interrupted the supply chain to impact supply and demand, but the cost of raw materials remained high, and aluminum may rise
today.

Aluminum City

Overnight, Lun aluminum opened high and closed high, opening slightly lower at $
3272 today.
Shanghai aluminum opened low and high overnight, turned higher to close Xiaoyang, closed at 21090.
Shanghai aluminum trading declined, positions rose, and market sentiment improved slightly
.
The situation in Russia and Ukraine has a greater impact on the market, market sentiment is not good, the short-term trend of Shanghai aluminum is weak, the adjustment continues, the medium-term fundamentals are acceptable, and there is no excessive pessimism
.
Upper pressure 23000, lower support 20000
.

Under the impact of the epidemic, downstream starts continued to decline, although the inventory was destocked on Monday, but the main reason was insufficient storage, it is expected that short-term inventory will not decline significantly, and aluminum prices will still be weak
.
However, at present, in response to transportation problems, many departments have jointly issued a statement to restore smooth logistics and transportation, which to a certain extent boosted the market's confidence in the rising demand for aluminum in the future, and the bullish sentiment gradually gave support to aluminum prices
.
Given that the pressure on the demand side is still there, aluminum is still around
21,000 weak shocks.

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