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Aluminum market afternoon comment: the strength of the US dollar weighed on commodity prices, and London aluminum closed down 0.
38% overnight; The interest rate hike of many central banks weakened market expectations for better demand, while domestic manufacturing activity fell below the boom and bust line, and aluminum was expected to fall
.
At present, the market is worried that the Fed-led central bank's aggressive interest rate hike will lead to a recession in the global economy, coupled with consumer concerns
at the back end of real estate.
At present, the contradiction between supply and demand of domestic electrolytic aluminum fundamentals is not prominent, and the low inventory pattern of the domestic aluminum market is maintained
.
The subsequent determination of the trend of aluminum prices is mainly the Fed's interest rate hike and domestic economic stimulus policies
.
After the holiday, domestic consumption improved, the peak season arrived, aluminum inventories continued to decline this week, and there was cost support
below aluminum prices.
Short-term aluminum prices were stimulated by the news to fall rapidly, and the medium-term outlook was biased towards the positive
.
Upper pressure 20000, lower support 17500
.
