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    Home > Chemicals Industry > New Chemical Materials > Aluminum remains weak and difficult to rebound before delivery

    Aluminum remains weak and difficult to rebound before delivery

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    On Thursday, the main contract of Shanghai aluminum 1912 opened at 13795 yuan / ton
    in the morning.
    After the opening, bulls took the initiative to enter, and Shanghai aluminum fluctuated to the upside
    .
    After the announcement of the decline of 23,000 tons of aluminum ingot inventory, the confidence of bulls continued to pursue, and Shanghai aluminum continued to rise, crossing the 20-day moving average high to touch 13,865 yuan / ton
    .
    After the high short entry, the long and short game intensified, and some bulls left the market in profit at the end of the day, and the bears took advantage of the situation to pursue, and Shanghai aluminum closed at 13805 yuan / ton, almost smoothing out the day's gains
    .
    It is expected that Shanghai aluminum will remain weak and volatile, and it will be difficult to rebound
    before delivery.

    Period aluminum

    In terms of external disk, Lun aluminum opened at 1767 US dollars / ton
    in the morning.
    During the Asian session, Lun aluminum remained strong and volatile, touching a high of 1772 US dollars / ton
    .
    In the afternoon, Lun aluminum weakened, almost erasing the gains, and as of 15:00, Lun aluminum was reported at 1768.
    5 US dollars / ton
    .
    Entering the European session, Lun aluminum fell sharply, falling below the 20-day moving average low to touch 1762 US dollars / ton
    .
    As of 17:35, Lun Aluminum was trading at $1764 / ton
    .
    Today's Lun aluminum inventory increased by 75,075 tons to 102975 tons, and the inventory continued to increase, affected by the continued weakening of Lun aluminum, and it is expected that Lun aluminum will test the support of the 40-day moving average around the $1750/ton mark in the evening
    .

    In the market, aluminum futures maintained a narrow range of volatility before noon of the month
    .
    The spot quotation in Shanghai and Wuxi markets is between 13930-13950 yuan / ton, which is nearly 30 yuan / ton higher than the previous day, and the discount for the current month's plate continues to expand to 270-250 yuan / ton, and the next month's premium is around 100 yuan / ton, and the spot price in Hangzhou is between
    13950-13970 yuan / ton.
    Due to the approaching monthly delivery and the price at a relatively low level, the shipment efforts of the holders have converged compared with the previous two days, and the middlemen are still very active in receiving goods at low prices, and the trading between the two sides is acceptable, but the market is still not as hot as the previous two weeks
    due to the lack of participation of large households.
    Downstream on-demand procurement is the mainstay, and the receipt of goods is mediocre, without much bright spots
    .
    In the late afternoon, aluminum continued to maintain range fluctuations, and the price of the holders was around 100 yuan / ton for the next month, that is, about 13910 yuan / ton, and the discount for the current month was 290 yuan / ton, only a small number of transactions between traders, and almost nothing
    downstream.

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