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October 26 aluminum market noon review

 Last Update: 2022-12-26
 Source: Internet
 Author: User

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Aluminum market afternoon commentary: the dollar fell to a three-week low, and London aluminum closed up 1.
75% overnight; Macro pressure has slowed down, high aluminum costs have provided bottom support for aluminum prices, and low supply and low inventory in the fourth quarter, and aluminum is expected to rise
.

Aluminum City

Crude oil rose slightly on Friday, European natural gas prices rose sharply, and Lun aluminum rushed back to close in Zhongyang, opening slightly higher at $
2222 today.
Shanghai aluminum opened low and closed high in Zhongyang, closing at 18635
.
Shanghai aluminum trading positions are declining, and market sentiment is biased towards
neutrality.
After the holiday, domestic consumption improved, the peak season gradually approached, aluminum inventories continued to decline this week, and there was cost support below aluminum prices, and the moderate rebound trend
may continue in the medium term.
Upper pressure 20000, lower support 18000
.

At present, the overall fundamentals have not changed much, and there is a lack of opportunity to break the deadlock, and the situation of weak supply and demand is still dominant
.
Aluminum ingot inventories continue to be at a low level, spot trading in the South China market is relatively active but weak in East China, and alumina prices on the cost side continue to move down, but energy costs are high
.
At present, interest rate hikes are still the vane of price operation, and aluminum prices will continue to maintain a volatile finishing trend
in the absence of other unexpected events.

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