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Shanghai aluminum maintains a narrow range of fluctuations, and the upward drive will gradually appear

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

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Last week, Shanghai aluminum maintained a narrow range
.
On Friday evening, most of the international metal futures closed higher, London copper futures closed at 6674 US dollars / ton, up 0.
77%, London aluminum futures closed at 1798 US dollars / ton, up 1.
12%, domestic copper and aluminum futures followed the night rise, Shanghai aluminum futures 2010 contract at 14620 yuan / ton, up 0.
48%.

Shanghai aluminum

At the macro level, the Fed said that inflation has remained at an average level of 2% for a longer period of time, indicating that the Fed will allow inflation to overshoot, dispelling market concerns
about raising interest rates in the short term.

In terms of supply, aluminum enterprises have steadily released production capacity, and more new production capacity will be released in September, such as Yun Aluminum Haixin, Yunnan Hongtai and other enterprises
.
Although the current production capacity continues to be released, due to the slow pace of resumption of production, there has been no significant increase in output
.

In terms of demand, the downstream sectors of aluminum have shown certain signs of recovery, although there is still a gap from strong consumption, but it is about to enter September, and the upward drive of the demand season will gradually appear
.

Overall, the peak season of aluminum prices is expected to enter reality, and the increase in supply before the end of October is difficult to cope with the increase
in demand in the peak season.
Strategically, it is recommended to hold more positions and wait for the peak season to drive
.

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