Early Comments On Aluminum: The Price Of Aluminum Was High
Nov 29, 2022
Early comments on aluminum: the price of aluminum was high, and the negative line was absorbed (November 29, 2022)
The aluminum price opened higher and went higher to kill the negative line, which was swallowed up by SME in the morning. It showed that the lme aluminum had a strong shock overnight. The domestic closing price was around US $2350, and then the aluminum price had a strong shock, reaching a maximum of US $2379. The final price was close around US $2374. The main force of Shanghai Aluminum rose at night, opening at 18740 yuan at night, and then the price rose, and finally closing at 18925 yuan. Fundamentally speaking, the profit of the aluminum industry chain is still high. Although the short-term domestic supply shrinks, it will probably recover at a later stage. There is pressure above. Yesterday's downward trend was basically swallowed up, and the short-term price may continue to fluctuate at a high level.
