echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > October 24 aluminum market noon comment

    October 24 aluminum market noon comment

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Aluminum market afternoon comment: oil prices strengthened, the next week Lun aluminum slightly rose 0.
    07%; Macro pressure remains, the domestic market waits for whether the policy will release space, the market supply is sufficient, and the downstream operating rate has declined, and aluminum is expected to fall
    slightly.

    Aluminum City

    Crude oil rose slightly on Friday, and Lun aluminum fluctuated sharply to close Xiaoyang, opening slightly higher at $
    2230 today.
    Shanghai aluminum opened low and rose to close Xiaoyang at 1858
    in the night session.
    Shanghai aluminum trading positions are rising, and market sentiment is more optimistic
    .
    After the holiday, domestic consumption improved, the peak season gradually approached, aluminum inventories fell significantly this week, and there was cost support below the aluminum price, and the medium term may be range-bound or moderate rebound
    .

    At present, domestic micro bullish + overseas macro bearish is still the main line, but the dovish statement of some Fed officials may become a driving force for market turning, and the market is concerned about the final result of the sanctions imposed on Russian metals by the London Stock Exchange at the end of the month, and the probability of "one-size-fits-all" is expected to be small, and the probability of tariff policy is large
    .
    The market has the probability of getting out of the volatile market, and the short-term market is gathering
    in terms of positive factors.
    Pay attention to the pressure level
    of 19,000 yuan / ton.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.