Aluminum will fall to a new low below $2,000 within the year.

Aluminum will fall to a new low below $2,000 within the year. The price of alumina in China has shown a low trend recently. In the short term, alumina prices may show a low volatility trend, and the restrictions on automobile transportation caused by the epidemic will support the narrowing of the recent price decline in the north; In the long run, there is still great downward pressure on alumina prices, and the oversupply market will force high-cost production capacity to gradually withdraw, if there is no black swan event, only large-scale production reduction can reverse the current downward trend.

According to reports, Credit Suisse economists predict that the LME futures aluminum is still in a clear downward channel, still inclined to believe that aluminum prices will fall further in the fourth quarter and will hit a new low for the year. The next important medium-term support is at $2015/2000, which is the 78.6% retracement of the bull market from 2020 to 2022 and is also the key psychological threshold. The next medium-term support is at $1945, then $1725, then the key 2020 low at $1455. If the aluminum price clearly returns above the 55-day average, currently at $2,344, the aluminum price is expected to stabilize in the short term, but to be more stable and stable, the aluminum price needs to break through the 200-day average, which is currently at $2,820, but this is not the basic scenario of Credit Suisse's forecast.

This form will also affect the price of aluminum in China, and then affect the price of aluminum plate and other aluminum products produced by Haomei Aluminum Co., Ltd., but you don't have to worry about us having big fluctuations. Because as a manufacturer, we have a very rich supply and inventory. If you need us we will sell it to you at factory price.