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May 22 Lun aluminum morning review

 Last Update: 2022-12-10
 Source: Internet
 Author: User

Tags

ferritin level 5

non ferrous alloys

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Overnight Lun aluminum opened at 2270 US dollars / ton, the Asian morning session of the Russian aluminum incident continued to ferment, Lun aluminum declined, recorded a low of 2254.
5 US dollars / ton, in the afternoon Lun aluminum stabilized and rebounded, but at 2270 US dollars / ton resistance, Lun aluminum declined; Entering the European session, Lun aluminum once again rose to challenge the resistance level, the US index fell back to the high, boosting Lun aluminum upward, recording a high of 2292 US dollars / ton, and the end of the Lun aluminum high retracement closed at 2276.
5 US dollars / ton
.
The trading volume decreased by 3614 lots to 7712 lots, and the position increased by 426 lots to 731602 lots
.
Venezuela's crisis boosted oil prices, bullish commodities, Lun aluminum volatility is strong, up to test 2300 US dollars / ton resistance level, is expected to run 2360 ~ 2300 US dollars / ton
in the day.

Lun aluminum

The news was calm overnight, and the market remained optimistic
, supported by the Sino-US joint statement.
The market is cautious about the latest minutes of the Fed's meeting on Wednesday, and overnight Fed officials reiterated their stance on gradual interest rate hikes, and the dollar once rose sharply and then fell back and finally fell
.
The retreat of the US dollar also boosted the trend of non-ferrous metals, which continued to be
strong overnight.

Due to the increase in inventory, there is uncertainty in Rusal, the weekend night Lun aluminum weakened slightly below $2300, but the downstream destocking continued, the support for aluminum prices is better, aluminum prices are expected to fall limited, the technical below the average line is obviously supported, it is expected that today's Lun aluminum or continue to fluctuate
.

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