SMM Daily Aluminium Market Comment (Apr 14, 2023)

Publicado: Apr 14, 2023 09:52
Fonte: SMM
SHANGHAI, Apr 14 (SMM) – Overnight, the most-traded SHFE 2305 aluminium contract prices opened at 18,630 yuan/mt, with its lowest and highest at 18,595 yuan/mt and 18,730 yuan/mt before closing at 18,690 yuan/mt, up 200 yuan/mt or 1.08%.

SHANGHAI, Apr 14 (SMM) – Overnight, the most-traded SHFE 2305 aluminium contract prices opened at 18,630 yuan/mt, with its lowest and highest at 18,595 yuan/mt and 18,730 yuan/mt before closing at 18,690 yuan/mt, up 200 yuan/mt or 1.08%. LME aluminium opened at $2,330.5/mt on Thursday, with its high and low at $2,385/mt and $2,321/mt respectively before closing at $2,363/mt, an increase of $39/mt or 1.68%.

Expectations for US interest rate hike eased, sending the US dollar index lower. The domestic aluminium supply maintained a slight increase. Downstream operating rates rose only slightly this week. Aluminium ingot stocks are expected to drop further amid limited arrivals. On the whole, the short-term aluminium market is intertwined with positive and negative factors, which may keep aluminium prices rangebound. It is necessary to continue to pay attention to the power supply situation in Yunnan, inventory changes, and whether the Federal Reserve will raise interest rate.

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