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Guangzhou futures: The macro sentiment is stronger, and the aluminum price starts to rise again

Guangzhou futures: The macro sentiment is stronger, and the aluminum price starts to rise again

2024-06-07

The European Central Bank cut interest rates as scheduled to release easing expectations for the market, the weekly US ADP employment data released lower than expected, the US dollar index fell, boosting commodity sentiment. The fundamentals maintain both supply and demand, the upstream raw material shortage of high prices to support the cost of aluminum along the lower edge, the imported aluminum supplement window is closed, but the domestic Yunnan production, Inner Mongolia production increase, the demand side into the off-season consumption, inventory is slow, short-term aluminum prices still have the risk of correction, the medium and long trend to maintain more views, the recent is dominated by macro sentiment to promote the price upward, It is recommended to wait until the trend is clear before participating much lower.

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