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August 14 Lun aluminum morning review

 Last Update: 2022-12-06
 Source: Internet
 Author: User

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On Friday, Lun aluminum opened at 2033.
5 US dollars / ton, the Asian session Lun aluminum wide volatility trading center of gravity has shifted, the low touch the 5-day moving average recorded 2018 US dollars / ton, into the European trading session, the market atmosphere is still more, Lun aluminum shock upward successfully turned red, evening Lun aluminum continued to fluctuate strongly, the trading center slowly moved up, the high recorded 2048 US dollars / ton, again updated the previous high, closed at 2044 US dollars / ton, The position increased by 7,963 lots to 668,000 lots, and it is expected that today's Lun aluminum high is weak, with an operating range of 2035~2050 US dollars / ton
.

Lun aluminum

In terms of news, due to the US CPI in July was less than expected, the US dollar was under pressure, and nonferrous metals such as copper and aluminum rebounded
slightly.
However, the China Steel Association issued a document criticizing the deliberate speculation of steel prices, the black plate was suppressed, and the trend of the colored sector was dragged
down.
The metal's recent rally has been slightly excessive, and a pullback is inevitable
.

Driven by the weakening of the US dollar, Lun aluminum fluctuated higher overnight on Friday, the overall technical pattern is strong, and the bulls' confidence in the future market is still sufficient
.
However, in the absence of further news on supply-side reform, Lun Aluminum may maintain a high volatility pattern
.

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