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August 3 aluminum market noon comment

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

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Aluminum market afternoon commentary: interest rate hike comments boosted the dollar strengthened, overnight Lun aluminum closed down 1.
47%; The fundamentals are weak and the inventory of aluminum has stopped falling and rebounded, and the trend of aluminum prices is under pressure, but the production and sales of new energy vehicles are eye-catching, and aluminum may remain stable
.

Aluminum City

Crude oil fell slightly overnight, with Lun aluminum falling to close in the shade, opening slightly lower at $
2404 today.
After falling yesterday, Shanghai aluminum rebounded at the 20-day moving average to close at 18165
overnight.
Shanghai aluminum trading is stable and positions are declining, and market sentiment is biased towards wait-and-see
.
The off-season is approaching the weakening of domestic consumption, but cost support exists, and the market may continue to fluctuate
at the bottom around 18,000.
Upper pressure 20000, lower support 17000
.

Recently, Shanghai aluminum is still led by fundamentals, pay attention to the fermentation of repeated pledge news of fundamental warehouse receipts, or continue to form bearish on the market, and pay short-term attention to the rebound repair market
.

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