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January 13 aluminum market afternoon comment

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

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Aluminum market afternoon comment: the US dollar weakened sharply and oil prices rose boosted, overnight Lun aluminum closed up $16, seasonal demand turned weak domestic into the accumulation cycle, but LME inventory is still dematerializing, it is expected that today's aluminum rise and fall is not much
.

Aluminum City

Overnight, Lun aluminum rose sharply to close on the 5/20-day moving average at Zhongyang Station, closing at $
2026.
5.
Shanghai aluminum opened slightly higher in overnight trading, then fell to close slightly negative, closing at 14880
.
Shanghai aluminum trading declined, positions rose, and market sentiment improved
.
Domestic social inventory has risen significantly recently, and the trend of Shanghai aluminum is weaker than that of Lun aluminum, and it is expected to stabilize
above 14500 in the medium term.
Upper pressure 15700, lower support 14500
.

The domestic electrolytic aluminum social stock rose to 676,000 tons, and the inventory inflection point has been established, and the follow-up will enter the off-season accumulation stage
.
Affected by this year's cold winter and the new crown epidemic, downstream aluminum processing companies took an earlier holiday, and the demand side fell rapidly
.
In the case of the establishment of the inventory inflection point, the trend of aluminum prices is relatively sluggish, and the new orders are mainly
wait-and-see.

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