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April 5 aluminum market morning review

 Last Update: 2022-12-05
 Source: Internet
 Author: User

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The domestic aluminum market was closed during the Qingming Festival, Lun aluminum was dragged down by the surrounding metals to record two consecutive negatives, overnight Lun aluminum opened at 1950 US dollars / ton, the Asian session trend is stable, around the daily moving average narrow range oscillation, into the European trading session, Lun aluminum trading center of gravity gradually shifted, the low fell below the 10-day moving average support touched 1936 US dollars / ton, closed at 1938.
5 US dollars / ton
.
Lun aluminum obtained a technical correction, it is expected that today Lun aluminum will try to recover the 10-day moving average, the operating range is 1922~1946 US dollars / ton
.

Aluminum City

There was no night trading data on Friday, and it is expected that the main force of Shanghai aluminum will make up for the decline and repair ratio, with an operating range of 13800~14100 yuan / ton, and a spot discount of 200~160 yuan / ton
.

On April 3, aluminum rose on the London Metal Exchange (LME), approaching a 28-month high hit last week on expectations of tighter markets, but rising aluminium prices could mean producers will restore capacity to fill the gap
between supply and demand.

At 16:00 London time on April 3 (00:00 Beijing time on April 4), three-month aluminum closed down 0.
5% at $
1,952 a tonne.
Last-cycle aluminum hit its highest $1,981 since December 2014
.
Market trading was light as Monday and Tuesday were Chinese holidays
.

Analysts said that the commodity market has generally risen, and this rally is not over
.
Aluminum, in particular, is rumored to be cutting capacity in China and the price rally may remain for a while longer because of concerns about the environment, but the past experience is that when prices rise, profit margins rise and supply also increases
.

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