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    Home > Chemicals Industry > New Chemical Materials > April 8 aluminum market morning review

    April 8 aluminum market morning review

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    Overnight, non-ferrous metals fell under the influence of copper, the aluminum market performance was relatively firm, Shanghai aluminum main force opened at 11750 yuan / ton, the beginning of the long position closed out of the market triggered short positions to increase, aluminum prices fell sharply, tested down 11520 yuan / ton, then short-term short profit exit, aluminum prices rebounded to close at 11660 yuan / ton
    .
    The main force of Shanghai aluminum fell below the 10-day moving average, and it is expected to be technically revised today, running 11600-11750 yuan / ton
    within the day.

    Aluminum City

    Overnight, Lun aluminum opened at 1515 US dollars / ton, Apan Lun aluminum oscillated upward, the high touched 1524 US dollars / ton, at the end of the Asian market, crude oil leaked Lun aluminum fell sharply, into the European market, the dollar is high, crude oil continues to leak, Lun aluminum fell unabated, the low touched 1496 US dollars / ton, closed at 1498 US dollars / ton
    .

    On the macro front, the number of initial jobless claims in the United States last week was 267,000, better than expected, below 300,000 for 57 consecutive weeks, the labor market is solid, Yellen said at the seminar that the United States is close to full employment, the economy is developing steadily, and the further downside of the dollar is limited
    .
    The market is still worried about domestic demand, and uncertainty about future improvement in Chinese demand will continue to limit the rise
    in aluminum prices.
    Short-term aluminum price volatility is weak
    .

    In terms of the market, the spot price of aluminum remained in a premium state for the month, and holders sold at a high price under a bullish mentality
    .
    In terms of brands, Shanghai hopes that the tight supply of goods will lead to higher prices than other brands
    .
    The middleman believes that the aluminum period is in a corrective sorting, the willingness to replenish is more positive than yesterday, the downstream enterprises purchase on demand, receive goods stably, and the market transaction has steadily improved
    .
    However, Thursday's domestic social inventory data fell by 28,000 tons, indicating that domestic supply is still tight, and April still maintains a short judgment, pulling back to the 20-day moving average to test long
    .

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