echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum prices continue to fluctuate in a narrow range at a high level, and the market is mainly wait-and-see for the time being

    Aluminum prices continue to fluctuate in a narrow range at a high level, and the market is mainly wait-and-see for the time being

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the main force of Shanghai aluminum opened at 12660 yuan / ton, the early days of the bulls concentrated on leaving the market, aluminum prices quickly fell below the 5-day moving average support, the low touched 12570 yuan / ton, triggered the short low liquidation, Shanghai aluminum trading center of gravity slowly moved up, during the short-term long closure left the market led to aluminum prices repeated, the end of the session bulls chased up aluminum prices to close at 12700 yuan / ton
    .
    On the market, the current long and short sides are more cautious, leaving the market wait-and-see sentiment is stronger, Shanghai aluminum index holdings reduced by 17718 hands to 557674 lots, in the short term, Shanghai aluminum performance is still easy to rise and fall, always pay attention to capital trends, cautious to chase higher
    .

    Shanghai aluminum

    In foreign countries, in the morning, Lun aluminum opened at 1670 US dollars / ton, after the opening relying on the daily moving average above the long and short competition, in the afternoon, the dollar trend is weak, Lun aluminum trading center continues to rise, into the European trading session Lun aluminum volume rose, the high touched 1685 US dollars / ton
    .

    In terms of market, Shanghai transaction concentration is 12980-12990 yuan / ton, flat water to premium water 10 yuan / ton in the month, Wuxi transaction concentration is 12970-12980 yuan / ton, Hangzhou transaction concentration is 12980-13000 yuan / ton
    .
    The price difference in the month of the following month has narrowed, but the price difference is still more than 150 yuan / ton, the willingness of the holders to ship for cash remains positive, Shanghai part of the gannin aluminum due to warehouse reasons, the quotation is as low as 12940 yuan / ton, the middleman low price slightly replenished, downstream on-demand procurement, the month of aluminum is stable compared with yesterday, the overall transaction is stable
    compared with yesterday.
    Aluminum rose in the afternoon to return to above the 13,000 yuan / ton mark, middlemen wait-and-see sentiment is strong, few inquiries, almost no deals
    .

    In terms of inventory, according to statistics, on July 14, the total aluminum inventory of the five major societies in the country was 283,000 tons, a decrease of 09,000 tons from the same period last week, and the inventory continued to decline
    .
    Considering inventory and spot premiums, short-term aluminum prices continue to be firm, but the expected supply and demand changes are difficult to change, and medium-term aluminum prices are still under pressure
    .
    On the plate, aluminum prices continue to fluctuate in a narrow range at a high level, lack of operating space, and wait and see
    for the time being.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.