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June 16 Shanghai aluminum morning review

 Last Update: 2022-12-06
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai aluminum tried to repair the previous decline, but the pressure around the upper 5-day moving average of 13650 yuan / ton remains, the fundamentals still lack the actual favorable factors support, after entering June, the capital tightened, the weakening of spot consumption in the same period, will further suppress the spot market, inventory pressure increased situation, aluminum prices are expected to be difficult to improve, the main force 1708 is expected to run 13450 ~ 13650 yuan / ton within the day, spot after the month discount 120 ~ 80 yuan / ton
.

Shanghai aluminum

In terms of the market, on the same day, the spot price of A00# aluminum was 13350 yuan / ton, down 220 yuan / ton from the previous day, and the discount of 15 yuan / ton compared with the near-month contract, Shanghai aluminum fell sharply, some holders chose to sell and wait and see, the market circulation was limited, some downstream and middlemen chose to buy at the dip, and the overall market transaction activity picked up
.

In terms of news, the US dollar rose after the Federal Reserve announced its interest rate hike decision, and Lun aluminum performed weakly overnight to close down $3, Rusal plans to increase aluminum production, and the continuous increase in supply makes aluminum prices weak, and aluminum is expected to rise or fall little
today.

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