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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices rebounded slightly from low levels to maintain a narrow range of fluctuations

    Aluminum prices rebounded slightly from low levels to maintain a narrow range of fluctuations

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    On Monday morning, the main 2004 contract of Shanghai aluminum opened with short positions to increase positions and put pressure on more than 1,000 lots, opening at 13685 yuan / ton, the opening recorded a long upper shadow Yang line, insufficient upward momentum, the first trading stage slowly declined, the second trading stage was mainly range-bound, during the low of 13660 yuan / ton, the end of the day rebounded slightly, the high of 13695 yuan / ton pierced the upper 60-day moving average resistance, and finally closed at 13690 yuan / ton
    .

    Aluminum prices

    In terms of external trading, Lun aluminum opened at 1722.
    5 US dollars / ton, two highs fell within the day, both upward were blocked at 1725 US dollars / ton mark, it was always difficult to break through the barrier significantly, and after the two rises were all the gains, intraday low 1714.
    5 US dollars / ton, although every time there is a low recovery, but the upper high gradually sinks, as of 17:30, Lun aluminum closed at 1720 US dollars / ton, the price was flat, closed at the doji, the center of gravity continued to sink from the previous day, falling below
    all moving averages 。 In the context of the US dollar index climbing all the way to the strong performance, it is difficult for Lun Aluminum to break through upward, although LME aluminum metal inventory has fallen by more than 10,000 tons for several consecutive days, but it is still difficult to provide a driving force for Lun Aluminum, it is expected that Lun Aluminum will continue to maintain range volatility, pay attention to macro trading sentiment and changes in long and short positions
    .

    In terms of the market, aluminum fell before noon in the month
    .
    The mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets is concentrated between 13550-13570 yuan / ton, which is about 20 yuan / ton lower than the previous day's price, and the spot premium is between 10 yuan / ton and flat water
    .
    Due to the escalation of the epidemic and the lack of signs of full resumption of work downstream, the market is not confident in March to April, and continues to pay attention to the progress of subsequent downstream manufacturers
    .

    Intraday traders are more active in trading, and holders actively ship, but due to general downstream demand, middlemen receive strict requirements for prices, and the transaction between the two sides is slightly
    deadlocked.
    It is understood that many factories are still waiting for the process of government approval, the willingness to prepare goods is not strong, and the traffic is not completely smooth, and the transportation of raw materials is also a problem
    .
    The overall transaction in East China was relatively light
    during the day.
    In the late afternoon, aluminum maintained a narrow range of fluctuations, although the price of the holder was around 13550 yuan / ton, the discount on the plate was around 10 yuan / ton, and the actual transaction was almost nothing
    .

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