echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > April 29 aluminum market noon comment

    April 29 aluminum market noon comment

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Aluminum market afternoon comment: The Fed's dovish stance hit the dollar index, overnight London aluminum shock closed up $1, peak season consumption expectations have not changed, high energy-consuming industry capacity production is limited, is expected to rise today
    .

    Aluminum City

    Overnight, Lun aluminum bottomed out and rebounded at the 5-day moving average to close Xiaoyang, opening slightly higher at $
    2402 today.
    Shanghai aluminum fell in daily trading, opened high and rose to close in Zhongyang, closing at 18575
    .
    Shanghai aluminum trading declined, positions rose, and market sentiment was optimistic
    .
    Driven by the strong external market, Shanghai aluminum may continue the volatile upward trend
    in the medium term.
    Upper pressure 19000, lower support 18000
    .

    From the supply side, although Inner Mongolia is still affected by the dual control, the pace of domestic new construction and resumption of production in the second quarter accelerated superimposed on the increase in imports, the overall supply still increased, on the consumption side, the characteristics of the peak season recovery are still very obvious, in addition to the automotive sector due to the lack of core problems led to a decrease in orders, the rest of the sector orders gradually improved, before May Day, still optimistic about aluminum price performance
    .
    At the same time, various news of carbon neutrality and production restrictions will form a pulse increase in aluminum prices for a long time in the future
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.