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Aluminum market noon comment: oil prices continued to rise to drive commodities, overnight Lun aluminum shock closed up $9, China's car sales achieved four consecutive months of growth, electrolytic aluminum is still steadily going to the warehouse, it is expected that today aluminum rose
slightly.
Overnight, Lun aluminum stabilized at $1900 and closed Xiaoyang, setting a new closing high at $
1911.
Shanghai aluminum opened higher overnight, turned higher after stepping back on the 5-day moving average, and closed at 14975
.
In terms of news, China's exports of unwrought aluminum and aluminum products in October 2020 were 418,900 tons, down 1.
78% month-on-month and 2.
81%
year-on-year.
Under the macro and fundamental resonance, Shanghai aluminum continued to fluctuate strongly
.
At the beginning of the week, the social stock of aluminum ingots fell by nearly 20,000 tons to 630,000 tons, which is close to the lowest point
of the year.
At present, there is no sign of weakening downstream, inventories will reach new lows, and long-term negotiation nodes have a strong willingness to raise prices
.
It is expected that the Shanghai aluminum back structure will continue for a long time, aluminum prices are expected to remain high, and it is still feasible
to roll on the dip and earn monthly income.
