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February 11 Shanghai aluminum brief comment

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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As of Friday's afternoon close, the Shanghai aluminum main 2203 contract closed at 22670, down 570, or 2.
45%.

Shanghai aluminum

Frequent news of overseas production cuts during the week, coupled with the continuous confrontation between Russia and Ukraine, the energy crisis continued to ferment, in addition, the recent epidemic in Guangxi in China has also triggered concerns about supply in the domestic market, and multiple interference aluminum prices hit a new high in recent months next week; With the release of yesterday's US CPI data, the Fed's interest rate hike of 50 basis points may be a foregone conclusion, and market sentiment has fallen under the easing of inflation pressure, and it is expected that aluminum prices will continue the trend of shock pullback, or there is still some downside; The lower support focuses on 22,000.

In the medium and long term, downstream consumption is expected to continue to support prices to maintain a high level, and the operation can be temporarily waited and seen, and it is expected that spot aluminum next week may face the risk of appropriate downward adjustment
.

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