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Aluminum market afternoon comment: the weakening of the US dollar touched a three-week low, and the next week Lun aluminum closed up 0.
71%; High overseas energy prices have caused smelters to reduce production, downstream off-season factors are obvious, the market transaction situation is not optimistic, and aluminum may fall.
Crude rose slightly on Friday, and aluminum rose slightly to open as low as $
2,468 today.
Shanghai aluminum overnight high oscillation closed the doji, closing at 18695
.
Shanghai aluminum trading is stable, positions are declining, and market sentiment is biased towards
neutrality.
The off-season is approaching the weakening of domestic consumption, but cost support exists, and the market may enter a bottom shock or a moderate rebound
.
Upper pressure 20000, lower support 17000
.
After entering the second half of July, aluminum ingot consumption gradually began to enter the weakening trend after the off-season, and the overall supply fundamentals did not change much from the beginning of last month, so it is expected that the accumulation trend of aluminum ingots will continue
.
It should be noted that although the domestic real estate market continues to be sluggish, it is not ruled out that the state will introduce relevant strong stimulus policies to solve the problem of unfinished property loan cuts that have intensified recently
.
In the absence of a clear policy by the state, the overall view of aluminum is still bearish
.
