echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 10 Lun aluminum morning review

    May 10 Lun aluminum morning review

    • Last Update: 2022-12-10
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    In the morning, Lun aluminum opened at 2354 US dollars / ton, the center of gravity of London aluminum moved slightly up before the afternoon of the Asian market, the high touched 2370 US dollars / ton, and entered the downward channel in the afternoon, entering the European trading session Lun aluminum amplitude increased, and there was a big fall, the low pointed to 2280 US dollars / ton, but then the plot reversed 180 degrees, Lun aluminum reversed up, the high recorded 2370 US dollars / ton, and the end fell slightly to close at 2353 US dollars / ton
    .
    The trading volume increased by 2824 lots to 17123 lots, and the position increased by 4600 lots to 745445 lots
    .
    Lun aluminum out of the strong lower shadow, showing a strong lower support, while the decline process fluctuates greatly, easy to cause bulls cautious, Lun aluminum test 5/20 day moving average support role, is expected to run 2320 ~ 2370 US dollars / ton
    within the day.

    Lun aluminum

    The recent Rusal incident has calmed down, the market has re-looked for new trading logic, and the focus of the aluminum market has shifted to inflation expectations and supply and demand fundamentals
    in the industry.
    Crude oil has risen sharply in recent days, macro logic is choosing between inflation expectations and interest rate shocks, and short-term market sentiment may be unstable
    .

    From the disk point of view, Lun aluminum has recently probed and risen for two consecutive days, focusing on yesterday's lower shadow low at 2280 support, if it breaks down, the pattern will weaken
    .
    Aluminum prices after a series of days of rise after a slight decline, aluminum market demand continued to heat up, overnight Lun aluminum overall finishing change little, downstream destocking continued, the aluminum price support is better, it is expected that today Lun aluminum to maintain shock consolidation
    .

    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.

    Contact Us

    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.