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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices fell again, and it is difficult to get out of the range-bound market

    Aluminum prices fell again, and it is difficult to get out of the range-bound market

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    On Friday, the main contract of Shanghai aluminum opened at 12670 yuan / ton, the beginning of the session bears tried to enter, aluminum prices fell slightly, and then short-term bears took profits, a small number of bulls took advantage of the trend to enter the market to push up aluminum prices recorded a daily high of 12,700 yuan / ton, then short-term long liquidation hedging, aluminum prices fell again, the end of the session short cover concentrated exit, Shanghai aluminum main force closed at 12685 yuan / ton
    .

    Aluminum prices

    In terms of the external market, Lun aluminum opened at 1679 US dollars / ton in the morning, and the Asian trading session Lun aluminum rushed back down, entering the European trading session, Lun aluminum volatility intensified, Lun aluminum broke through the daily moving average resistance in one fell swoop, climbing 1696.
    5 US dollars, close to 1700 US dollars / ton, the rally is difficult to stop
    .

    In terms of the market, the volume of aluminum will fall before noon that month
    .
    Shanghai transaction concentration is 12910-12930 yuan / ton, for the month flat water to premium 10 yuan / ton, Wuxi transaction concentration 12900-12920 yuan / ton, Hangzhou transaction concentration 12950-12970 yuan / ton
    .
    On the last trading day, the price difference of the following month further narrowed to around 70 yuan / ton, Shanghai Wuxi holders actively shipped, Hangzhou circulation supply slightly reduced, Shanghai middlemen and downstream enterprises wait-and-see sentiment is stronger, waiting for the month, some Wuxi middlemen in view of the price difference is less, appropriate replenishment, downstream on-demand procurement, Wuxi overall transaction is better than Shanghai, transaction reproduces regional differences
    .
    In the late afternoon, the monthly volume of aluminum rose to 12960 yuan / ton, a small amount of Shanghai traded 12910 yuan / ton, Wuxi middlemen were more willing to receive goods in the afternoon, and the transaction was concentrated at 12910 yuan / ton
    .
    After the change of month, spot transactions may improve significantly
    .

    At present, Shanghai aluminum has entered a narrow range shock stage, the long-short game is intensifying, the 5-day moving average below is strongly supported, and it is expected that short-term Shanghai aluminum is still high volatility, and it is difficult to get out of the range shock market
    .

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