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June 22 aluminum market afternoon comment

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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chrome aluminum

elastic support

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Aluminum market noon comment: international oil prices continued to strengthen market sentiment optimistic, overnight Lun aluminum closed up $16; Domestic electrolytic aluminum exports are reduced, spot supply shortages still exist, Shanghai aluminum trend is firm, and aluminum prices are expected to rise
today.

Aluminum City

In terms of fundamentals, the current consumption has signs of weakening the transition to the off-season, but the reduction of electrolytic aluminum production in Yunnan, Inner Mongolia and other countries has moved the destocking inflection point back, and yesterday's social aluminum ingot inventory weekly was still as expected, but the destocking range has narrowed
.
In addition, the policy still needs to pay attention to the specific landing of the dumping of
reserves.
In the short term, it is expected that domestic aluminum prices will remain volatile
.

On Friday, Lun aluminum bottomed out and rebounded to turn over the 60-day moving average to close Zhongyang, which opened flat at $2402 today
.
Shanghai aluminum opened higher and rose to close in Zhongyang, closing above the 20/60-day moving average at 18525
.
Shanghai aluminum trading positions fell slightly, and market sentiment was neutral
.
The trend of aluminum prices is significantly stronger than that of copper prices, and demand is better, and it may be the first to stabilize
.
Support is strong around 18,000 below Shanghai aluminum, and the medium-term trend is expected to improve
.
Upper pressure 19000, lower support 18000
.

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