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Shanghai aluminum afternoon comment on October 9

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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aluminum cyanide

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This morning, the domestic non-ferrous metal market was green and thin, and as of the midday close, Shanghai aluminum rose 1.
51%, opening strongly up
.
Considering that the domestic spot supply and demand are close to balance, it is not recommended to chase after today's opening rush, and the market may generally continue the range-bound market
.
Shanghai aluminum upper pressure 14800, lower support 14000
.

Shanghai aluminum

Against the backdrop of the epidemic and the US election, uncertainty remains high
.
Before the holiday, the domestic spot market performed strongly, inventories accelerated to decline, and warehouse receipts remained at an extremely low level
.
The accumulated inventory during the holiday period is still expected to continue to destocking after the holiday, and Shanghai aluminum is expected to remain high under the state of high premium water and low inventory
.

Aluminum ingot inventories have recently turned down to support prices, and supply and demand are expected to remain tight
overall with the arrival of the peak season.
On the spot front, spot basis has recently rebounded, with expectations of demand recovery and concerns about low inventory levels
.
With the arrival of the peak season, supply and demand are expected to remain tight
overall.
At present, the commodity is generally pullback, and it is expected to rise in the future, and it is recommended to take advantage of the dip
.

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