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July 18 aluminum market afternoon review

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

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Aluminum market afternoon comment: the dollar index fell, and Lun aluminum closed up 0.
56% the next week; China is supported by steady growth, market pessimism has eased, and cost support is still there, downstream goods have also improved, and aluminum may rise
today.

Aluminum City

Crude oil rose slightly on Friday, and Lun aluminum rebounded after hitting a new low to close in Xiaoyang, opening slightly lower at $
2338 today.
Shanghai aluminum opened high and rose to close in Zhongyang, closing at 17700.
Shanghai aluminum trading premium position declined, market sentiment was biased towards neutral
.
The outlook for the Russia-Ukraine conflict is still unclear, and market uncertainty is high
.
Energy prices have declined, domestic demand has entered the off-season, the spot end tends to be neutral, and aluminum prices may gradually enter the bottom shock market
.
Upper pressure 20000, lower support 17000
.

The Fed hinted that a 75 basis point interest rate hike in July temporarily dispelled the market's concerns about a 100 basis point interest rate hike, and then look at the domestic epidemic control and consumption recovery, if the domestic social inventory falls below 700,000 tons, LME aluminum inventory falls below 300,000 tons, aluminum prices may rebound
in the medium term.
It is advisable
to wait and see before the drive is uncertain.

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