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December 28 aluminum market noon comment

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Aluminum market noon comment: epidemic-related restrictions hit the demand outlook, Shanghai aluminum closed down 145 yuan on Friday night, domestic environmental protection production restrictions continue to restrict consumption, northern weather affects downstream operating rates, it is expected that aluminum will fall
today.

Aluminum City

On the macro front, Trump threatened to veto stimulus packages
.
In terms of fundamentals, Henan's environmental protection production restrictions expanded, downstream processing generally limited production and stopped production until the end of the month, the demand for aluminum ingots fell sharply, and the amount of ingots cast in aluminum plants increased; Alumina price gains stagnated as production restrictions eased; The output of electrolytic aluminum continued to expand, and the second phase of Yunnan Shenhuo was officially put into operation; On the 24th, SMM aluminum ingot inventory reported 586,000 tons, down 0.
3 from last Thursday, and the market began to increase, and inventories are expected to rebound
.

Last Friday, the market was closed
.
Shanghai aluminum daily high fell back, night trading significantly higher, after the shock diving to close the shade, closed at the 5-day moving average of 15780
.
Shanghai aluminum trading declined, positions rose slightly, and market sentiment was biased towards
neutrality.
The rise in Shanghai aluminum in the early stage was mainly driven by the news of power cuts, and the current supply and demand at the spot end are weak, and the short-term may fluctuate
around 16,000.
Shanghai aluminum upper pressure 16300, lower support 15500
.

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