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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices fell slightly under pressure, and there was still upward momentum in the later period

    Aluminum prices fell slightly under pressure, and there was still upward momentum in the later period

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    On Monday, the main 1710 contract of Shanghai aluminum rose slightly after the opening of 14,900 yuan, after which the price rose impulsively above 15,000 yuan, and the price rose again to 15,315 yuan after the narrow range of shock sorting, and then the aluminum price fell slightly under pressure, and finally closed at 15,140 yuan, up 385 yuan, or 2.
    61%.

    Index holdings continued to increase by 71,944 lots to 769,000 lots, and the trading volume shrank sharply to 844,000 lots
    .

    Aluminum prices

    In the external market, the LME aluminum March contract immediately fluctuated higher after the open, and the price once rushed up to $1932 in the afternoon, after which the price continued to fluctuate and consolidate at a high level, closing at $1925, up $17, or 0.
    89%.

    In terms of the market, the mainstream trading hours of the spot market are generally trading, the futures price soared again within the day, and the holders have adjusted the price at a high level to ship, but the downstream has waited and watched, the market is mostly based on traders arbitrage to receive goods, the transaction is general
    .

    In terms of news, last week's total aluminum stock increased by 5,018 tons to 461,380 tons, brushing nearly 51 months high, although domestic aluminum inventories continue to rise, but the market is still optimistic about the development prospects of the aluminum market, in the morning Hebei and other places continue to announce the heating season peak production plan to deal with environmental protection to reduce production capacity, in addition to the surge in rebar to stimulate market trading enthusiasm, aluminum market also stood firm at the 15,000 mark
    .

    Technically, the main KDJ of Shanghai aluminum once again dead cross, MACD golden cross, the price broke through the 15,000 yuan integer mark, there is still upward momentum, the quotation may continue to rise to 14800
    yuan / ton.

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