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August 25 aluminum market noon comment

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Aluminum market afternoon comment: the stock market fell, overnight aluminum shock finishing slightly fell 0.
06%; Overseas aluminum plants spread the news of production cuts, power cuts in some parts of the country have been upgraded again, and the cost of aluminum storage is supported, and aluminum is expected to rise
slightly.

Aluminum City

Crude oil continued to rise overnight, and Lun aluminum rushed back to close Xiaoyang, opening slightly higher at $
2428 today.
Shanghai aluminum opened sharply lower in the night session, and the shock closed in a small negative, closing at 18910
.
Shanghai aluminum trading positions are declining, and market sentiment is biased towards wait-and-see
.
Domestic consumption is not good in the off-season, but under the energy crisis, there is cost support below, and the market may continue to fluctuate above 18,000 in the medium term
.
Upper pressure 19500, lower support 17500
.

The power rationing in the Sichuan-Chongqing area in China is still continuing, and the Sichuan electrolytic aluminum plant has basically stopped production; Chongqing aluminum enterprises also have a small pressure load, short-term supply pressure has eased, it is expected that the domestic electrolytic aluminum operating capacity may drop slightly to about
40.
8 million tons by the end of August.
The demand side is still dragged down by the real estate sector in a weak state, and power cuts also have a negative impact on consumption, and downstream construction starts fell slightly during the week, and this week there was accumulation again
.
Short-term production cuts support strong volatility in aluminum prices, but weak demand still limits its rebound height
.
Keep an eye on future weather and production cuts, inventory changes and overseas energy issues
.

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