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June 20 Shanghai aluminum afternoon comment

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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metal prices today

long spatula

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Overnight, the Shanghai aluminum main 1908 contract opened at 13870 yuan / ton, after the opening of the bulls momentum is strong, the center of gravity of the disk steadily moved up, touching 13920 yuan / ton, a small number of long positions at the end of the session closed the market, the price fell slightly, and finally closed at 13910 yuan / ton
.
The macro surface released a warming signal, the pressure at the upper 10,000 mark still exists, and it is expected to run in the intraday range at 13800-14100 yuan / ton, and the spot pair will rise to 20 yuan / ton
in flat water in the month.

Shanghai aluminum

The AOO aluminum ingot price in East China was 13910 yuan / ton, up 20 yuan
.
According to data from the World Bureau of Metal Statistics (WBMS), the global primary aluminum market supply shortage of 143,000 tons in the first four months, and the demand increased by 0.
8% year-on-year, indicating that the demand for aluminum market is acceptable, aluminum prices are temporarily supported or rebounded, and spot aluminum prices are expected to rise
slightly today.

The Fed's interest rate cut expectations increased sharply, the dollar fell sharply to boost, Shanghai aluminum continued to rise today, but the momentum was slightly insufficient, the main 1908 contract fluctuated around 13900, and closed at 13910 at the end, up 55 yuan from the previous trading day, or 0.
40%; Today's release of electrolytic aluminum inventory data continues to decline, which supports prices, but the decline in cost has not stopped, which is negative for aluminum prices; Long-short game, short-term Shanghai aluminum is expected to fall into a volatile market; It is expected that tomorrow's spot aluminum will rise slightly by 0-50 yuan
.

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