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On Wednesday, Lun aluminum opened at $1479 / ton
in the morning.
During the Asian session, the market fluctuated slightly to the upside, and at the end of the Asian session, it struggled to reach the highest level of the day at 1485 US dollars / ton, and then fluctuated downward at the beginning of the European session, closing at 1462.
5 US dollars / ton as of 18:24, giving up all the gains of the day
.
It fell by $9/ton, or 0.
61%, mainly due to the reduction of long positions
.
Yesterday, Lun Aluminum followed the decline of overseas metals and had a further downward trend
.
The current supply-side production reduction overseas is very limited, but the demand is weakened obviously, so the fundamental weak pattern is difficult to change, and it is expected to run weakly at 1450-1480 US dollars / ton
within the day.
Aluminum inventories in LME registered warehouses are increasing, up 25% from mid-March, consolidating expectations of a large oversupply this year, Citi expects an excess of 2.
7 million tons, overnight Lun aluminum weak shock, the latest closing quotation of 1469 US dollars / ton, down 9 US dollars, or 0.
61%, the volume of 13862 lots decreased 1984 lots, the position 777394 lots decreased 6864 lots
.
In terms of inventory, the London Metal Exchange (LME) reported 1227450 metric tons of London aluminum on April 8, an increase of 13,700 metric tons, or 1.
13%,
from the previous trading day.
