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April 20 aluminum market afternoon review

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

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Aluminum market afternoon comment: the US dollar index fell to a six-week low, overnight Lun aluminum closed up $9, the stable recovery of the global economy strengthens the prospect of increased demand, aluminum ingot social inventory is in a downward trend, it is expected that aluminum will rise
slightly today.

Aluminum City

Overnight, Lun aluminum rushed back down to close Xiaoyang, opening slightly higher at $
2234.
5 today.
Shanghai aluminum rose sharply in daily trading, and fell back to close in the night high to close in small clouds, closing near the 5-day moving average at 18140
.
Shanghai aluminum trading declined, positions rose, and market sentiment was strong
.
Last week, the news of Xinjiang's production restrictions stimulated aluminum prices to rise sharply, but the news was not reliable enough, and it may fluctuate around 18,000 in the short term, and the medium-term trend is still strong
.
Upper pressure 18500, lower support 17500
.

Under the goal of carbon neutrality, the growth of electrolytic aluminum supply will be limited
.
The social stock of electrolytic aluminum continues to decline, and has now exceeded 1.
2 million tons, and it is expected that the follow-up will still be destocked
.
From the perspective of the operating rate of processing enterprises, the operating rate continued to rise, orders improved significantly compared with the previous period, and the consumption of electrolytic aluminum in the second quarter remained unchanged
.
Overall, aluminum prices are easy to rise and fall under the mismatch of supply and demand, and it is recommended to continue to hold
.

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