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March 22 Shanghai aluminum afternoon commentary

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai aluminum 2204 reported 23165, up 130, and LME aluminum closed at 3522, up 134; On the macro front, 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

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
.

From the current market situation, March affected by multiple factors at home and abroad, the frequency of aluminum price fluctuations will increase, the range of fluctuations will widen, but changes in overseas situations and high energy prices have always formed a strong support for LME aluminum prices, and then transmitted to domestic aluminum prices, superimposed on the domestic demand season gradually coming, internal and external prices to boost exports increase expectations, so it is expected that aluminum prices in March will generally remain high
.

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