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August 5 aluminum market noon evaluation

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

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Aluminum market afternoon comment: high overseas energy prices pushed up smelting costs, overnight Lun aluminum closed up 0.
75%; The demand for aluminum cans in Japan is stable, but the domestic transaction is still weak, and the off-season factors affect the trend of aluminum, and the aluminum or a small rise
.

Aluminum City

Crude oil fell sharply again overnight, and Lun aluminum bottomed out to close Xiaoyang, opening slightly higher at $2408 today
.
Shanghai aluminum opened higher yesterday night and closed in Zhongyang, closing at 18450
.
Shanghai aluminum trading positions have risen significantly, and market sentiment is more optimistic
.
The off-season is approaching the weakening of domestic consumption, but inventories continue to decline this week, and there is cost support below, and the market may continue the bottom shock around 18,000, or a moderate rebound trend
.
Upper pressure 20000, lower support 17000
.

A sharp rise in natural gas in Europe has led to expectations of reduced production at aluminum plants
.
Domestic electrolytic aluminum operating capacity is still at a relatively high level, and there are no other production reduction expectations; The off-season on the demand side has not yet ended, the mainstream downstream sector has fewer new orders, insufficient consumption has led to a weak rise in aluminum prices, and inventory accumulation is expected
.
The spot market performed pessimistically, weakened with the rise, and the discount range continued to expand
.
Overnight aluminum prices rose to around 18500, and it is expected to continue to rise without sufficient momentum, and the overall shock is dominant
.

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