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October 11 Shanghai aluminum brief comment

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Today's aluminum price opened low and high, as of the close of 3 pm, the main 2111 contract of Shanghai aluminum closed up at 23105, up 180, or 0.
79%.

Shanghai aluminum

With the entry of the traditional aluminum consumption season, downstream aluminum demand has not been observed to heat up significantly so far, affected by the high price of raw materials, downstream end customers are skeptical about the price increase, demand has not been released, only maintain just demand part of the purchase, the inventory in the field is low
.
The price of alumina is gradually rising due to power restrictions, which will form a strong support
for the price of electrolytic aluminum.

After the holiday, the overall fluctuation range of the aluminum market intensified, and the price rose and fell repeatedly.
The main force continues to test the high of 23,000, but whether it can actually stand firm remains to be seen, short-term due to the domestic power rationing pattern has not been alleviated, coupled with the supply side aluminum enterprises continue to reduce production, supply and demand in the face of aluminum prices to form a strong promotion, the following 22,500 support still exists; in addition, by the recent US non-farm data is less than expected, macro sentiment driven the price of internal and external disks to rise again, the main upper pressure level can pay attention to 23500, short-term material aluminum prices or will rise again, the upstream and downstream of the operation can be replenished on demand, it is expected that tomorrow's spot aluminum or
。

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