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January 12 Shanghai aluminum afternoon comment

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

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zinc aluminum

aluminum metal

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Overnight, Shanghai aluminum continued to pullback
.
Approaching the Spring Festival, there is a situation of supply increase and demand decrease at the margin, that is, the fundamentals begin to show an inflection point compared with the previous period, and the pressure of social inventory accumulation is relatively large, at this time, for Shanghai Aluminum, the willingness to actively pull up at this time declines
.
On the whole, aluminum prices are expected to further recover.

Shanghai aluminum

In the market, the price of Chinalco East China AOO aluminum ingots was 15420 yuan / ton, down 300 yuan
.
With the increase in scrap aluminum imports, the pressure on the supply side is also rising, as the traditional consumption off-season approaches, electrolytic aluminum has recently accumulated significantly, and the downstream of some areas is still affected by limited production, and spot aluminum prices are expected to fall
today.

Short-term fundamentals face the impact of price short-term dominance, seasonal weakening of demand and the continuous upward supply to drive the accumulation in the first quarter obviously, aluminum price low inventory support gradually weakened, aluminum prices will be under pressure to pullback, it is recommended that short orders continue to hold, if macro optimism interference leads to a significant rebound of aluminum prices can be sold short, pay attention to the actual accumulation range and macro sentiment
.

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