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March 15 Lun aluminum morning review

 Last Update: 2022-12-09
 Source: Internet
 Author: User

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Overnight Lun aluminum opened at 2101.
5 US dollars / ton, the Asian session Lun aluminum trend is relatively light, narrow range below the 5-day moving average, into the European trading session, Lun aluminum inertia first suppressed and then rose, the low touched 2092 US dollars / ton after a sharp rise, successfully broke through the 5-day moving average resistance touched 2126.
5 US dollars / ton, but with the opening of the domestic night market, Lun aluminum was dragged down by Shanghai aluminum lower, once touched 2087 US dollars / ton, closed at 2089.
5 US dollars / ton, Overnight LME aluminum inventory continued to fall by 6075 tons to 1295625 tons, the recent aluminum price returned to the external strong internal weak pattern, short-term is expected to gradually consolidate the current platform, the future market or will continue to wait for the opportunity to rise, is expected to run at 2080 ~ 2105 US dollars / ton
today.

Lun aluminum

On the news front, London metal futures were tepid on Wednesday as fears of escalating U.
S.
steel and aluminum tariffs kept traders cautious, but better-than-expected industrial production data from China at the beginning of the year supported prices
.

Lun Aluminum maintained good support at $2100, but the bulls' attempts to counterattack upwards were still blocked
.
The current situation of Lun Aluminum's upward weakness has lasted for three trading days, and the upper selling pressure is still heavy
.
The current upper resistance of Lun Aluminum is large, mainly due to the demand recovery is not as expected by the market
.
The demand for the international aluminum market in March is still recovering, coupled with the downturn in the domestic aluminum market, it is expected that the short-term Lun aluminum will still be in a narrow range of consolidation in the range of 2090-2310 US dollars
.

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