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April 17 Lun aluminum morning review

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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Overnight Lun aluminum opened at 2279 US dollars / ton, the price of aluminum rose slightly at the beginning of the session, and then around the daily average of 2286 US dollars / ton a narrow range of shock, in the afternoon Lun aluminum again entered the rhythm of rally, and continued to the end of the Asian market, into the European trading session Lun aluminum steadily rising, the high once touched 2403 US dollars / ton, recorded the highest since 2011, closed at 2382 US dollars / ton, the position decreased by 10474 hands to 735,000 hands, short positions were mainly
closed 。 In the short term, the Rusal incident is still in a fermenting state, Glencore and Rio Tinto have said that the Rusal incident also suffered force majeure, Russian Ministry of Finance officials said that they will not take the initiative to use sovereign debt to support Rusal, Rusal has the possibility of reducing production, Lun aluminum strong trend continues, it is expected to run at 2350 ~ 2400 US dollars / ton
today.

Lun aluminum

Since the United States imposed sanctions on RUSAL earlier this month, the market's concerns about the shortage of supply have continued, and Rio Tinto has announced that some contracts related to RUSAL have encountered force majeure; In addition, tensions in Syria may not continue to escalate, boosting the buying of stocks and other risk assets, coupled with Trump's accusations that the Chinese and Russian currencies have devalued the US dollar, which has boosted aluminum prices to continue to rise
.

Lun aluminum overnight performance chased sharply, breaking through the $2400 support level, hitting a seven-year high, due to the fall of the US dollar index superimposed on supply concerns, the external trend is still strong, it is expected that today's Lun aluminum or continue to adjust at a high level
.

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