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June 24 aluminum market noon review

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

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Aluminum market afternoon commentary: the Fed will keep the interest rate low US dollar under pressure, overnight Lun aluminum rose slightly by $8; Imported recycled aluminum raw materials have declined, seasonal consumption off-season is coming, but at present, spot supply is still in short supply, and aluminum prices may rise
slightly today.

Aluminum City

Overnight, aluminum rose slightly and opened slightly lower at $
2433 today.
Shanghai aluminum rose slightly at its overnight high, closing at 18850
.
Shanghai aluminum trading is stable, positions are rising, and market sentiment is optimistic
.
The trend of aluminum prices is significantly stronger than that of copper prices, and demand is better, which may take the lead in stabilizing and rebounding
.
Support around 18,000 below Shanghai aluminum is strong, and it is expected to rise again in the medium term
.
Upper pressure 19500, lower support 18000
.

After the news of the dumping of reserves landed, the specific implementation rules have not yet been announced
.
There are obvious signs of month-on-month weakness in the current peak season, and supply side tightness expectations will also change
in July as production cuts in Yunnan will resume at the end of the month.
At this stage, the situation of continuous destocking will also support the high operation of aluminum prices for a period of time
.
Operationally, it is recommended to leave the market with a short order, short-term can buy an appropriate amount of dips, the overall market will maintain a high volatility pattern, pay attention to the support level below the 08 contract 18000 line
.

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