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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on March 23

    Shanghai aluminum afternoon review on March 23

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Overnight, the main force of Shanghai aluminum 2205 reported 22870 down 150, LME aluminum closed at 3505.
    5 down 16.
    5; macro aspect, the United States raised interest rates by 25 basis points as scheduled, and the Fed released a dot plot showing that the benchmark interest rate will be around 1.
    9% by the end of 2022, in line with traders' expectations, but higher than the Fed's previous expectations
    .

    Shanghai aluminum

    On the macro front, the dollar index remained in a high narrow range in the last trading day, although some Feds are more dovish, but Fed Chairman Powell said that there is a possibility of a single rate hike of more than 25BP, the dollar is supported to strengthen, the United States is still in the process of raising interest rates, and the dollar is supported
    below.

    Overseas, the Australian government immediately banned the export of alumina and aluminum ore, including bauxite, to Russia; Coupled with the closure of 1.
    7 million tons of alumina plants in Ukraine in the early stage of Rusal (after all Ukrainian alumina was shipped to Russia for its own use), the gap in the supply of Russian alumina was further amplified, and the risk of global electrolytic aluminum supply contraction intensified
    .

    Considering the energy crisis and the expected good demand for electrolytic aluminum, aluminum prices are expected to maintain a wide range of shocks, and the bottom has risen, it is recommended that high aluminum prices wait and see, and the price can be appropriately long
    .

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