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November 5 aluminum market noon review

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Aluminum market afternoon comment: The U.
S.
stock market continued to rise to boost the market, overnight London aluminum shock closed up $15, cost alumina prices are still low, low inventories provide bottom support, it is expected that today's aluminum rise and fall is limited
.

Aluminum City

After a sharp fall overnight, Lun aluminum continued to rise in the night session, turning into a new high, rising sharply for the fourth consecutive day
.
Shanghai aluminum rebounded to close at 14800
after stepping back on the 5-day moving average support overnight.
Shanghai aluminum trading fell and positions rose, domestic spot supply and demand were basically balanced, the external market strongly drove domestic sentiment, Shanghai aluminum may continue to rise with the external market, testing the pressure
around 15,000 above.
Shanghai aluminum upper pressure 15000, lower support 14500
.

The US election is still undecided, and Shanghai aluminum fluctuates
at a high level.
The overall performance of aluminum consumption is strong, the spot premium of aluminum ingots remains around 160 yuan, and the willingness of large market prices in long-term negotiation nodes will continue
.
At the beginning of the week, the social stock of aluminum ingots fell by 20,000 tons, the largest decline after the National Day
.
Under the state of low inventory, it is expected that the Shanghai aluminum back structure will continue for a long time, aluminum prices will continue to sell high and low to treat, and it is still feasible
to roll on the low and earn monthly income.

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