 Home > Chemicals Industry > New Chemical Materials > June 17 aluminum market afternoon comment

June 17 aluminum market afternoon comment

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

Tags

high pressure pneumatics

low ethanol gas

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

Aluminum market afternoon comment: interest rate hike landed the dollar retreated, overnight Lun aluminum closed up 2.
23%; Market pessimism has been released, China's May economic data is better than expected, downstream spot trading has improved, and aluminum may rise
today.

Aluminum City

Biden began to release US crude oil inventories, crude oil fell sharply, but Russia began to interrupt European gas supplies, and the energy issue remained the main logic
.
After a series of sharp declines, Lun Aluminum rebounded sharply after the overnight interest rate hike landed to close in Zhongyang, opening 0.
5% higher at $
2628 today.
Shanghai aluminum opened high and rose to close in 20025.
Shanghai aluminum trading positions are down, and market sentiment is biased to wait and see
.
The uncertainty of the Russia-Ukraine conflict is high, and the domestic consumption side has improved
.
Shanghai aluminum Lun aluminum below the reflects a certain support, Shanghai aluminum trend is significantly stronger than Lun aluminum, Shanghai aluminum may continue to rebound
after the shock.
Upper pressure 22000, lower support 20000
.

After the Fed's aggressive interest rate hike landed, the market traded recession expectations, U.
S.
stocks and crude oil led the general sharp correction in commodities, and the internal and external aluminum prices created a stage low, but the fundamentals were not very bad
.
As aluminum ingot inventories continue to decline and aluminum prices fall, spot discounts turn to premiums, and the willingness to purchase bargains may increase
.
Under the short-term macro shock, funds and sentiment led Shanghai aluminum to find the bottom and pay attention to the rebound opportunity
.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

9,10-Diphenylanthrac

CAS No.: 1499-10-1

$1-1.2/MT FOB

High Quality Polar Solvent 99.99% Ethylene carbonate/Ethylencarbonat/ EC CAS 96-49-1

CAS No.: 96-49-1

Pharmacy Grade

$1-1.2/MT FOB

High quality Fluorescent Brightener CBS-X 98% TOP1 supplier in China

CAS No.: 27344-41-8

Industrial Grade

$3/KG EXW

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.