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Market pressure eased and aluminum prices rebounded
slightly.
On Friday, Lun aluminum closed up 0.
07%; The main 11 contract of Shanghai aluminum closed up 0.
41% on the day and 0.
27%
overnight.
Spot premiums fell slightly, but remained at a relatively optimistic level; There are still rumors in the southwest of China that the production reduction during the dry period will be expanded, but the immediate inventory performance has weakened
slightly.
Stocks expected to be around
550,000 at the end of last year.
Although LME inventories surged by more than 200,000 tonnes last week, registered warehouse receipts increased by only 3,000 tonnes, and the pressure from rising inventories at the end of the week eased, and Lun Aluminum stabilized
.
At the same time, the pressure from hawkish Fed rate hikes has eased, and the hawkish stance of many Fed officials is "loosening", and the probability of a 75 basis point rate hike in December has fallen
sharply.
Last week, SMM statistics showed that the domestic social library fell by 19,000 tons to 636,000 tons, down 321,000 tons from the same period last year; aluminum rod stocks also fell sharply, and Shanghai aluminum rebounded
steadily.
Pay attention to the arrival of the social warehouse on the weekend, it is recommended to wait and see
.
