echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum rose first and then suppressed during the day and closed slightly lower at the end of the day

    Aluminum rose first and then suppressed during the day and closed slightly lower at the end of the day

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai aluminum main 1705 contract bottomed out.

    After the morning open, it fluctuated slightly all the way and then began to move lower, to 13630 yuan, and after 10 o'clock, the price rebounded, once rushing to 13760 yuan, and then the price fluctuated
    in a narrow range.
    It closed at 13,750 yuan, down 10 yuan, or -0.
    07%.

    The position decreased by 7,920 lots to 294,000 lots, and the trading volume shrank to 283,000 lots
    .

    Period aluminum

    Today, Lun aluminum opened slightly higher and then oscillate
    .
    It opened at $1865, then rushed to $1871 and then came under pressure, the price fell to $1863 for a while, and after 10:30 the price rebounded again to near the intraday high, after which the price fluctuated
    in a narrow range above the average price line of $1868.
    As of the Asian market closed at $1869.
    5, up $8.
    5, or 0.
    46%.

    Market: Today's Shanghai Nonferrous Metals Trading Center (SME) spot aluminum spot trading in the morning was 13410-13450 yuan / ton, down 130 yuan / ton from Monday, while the premium continued to remain at c100-c60 yuan / ton
    .
    The spot aluminum index of the Shanghai Nonferrous Metals Exchange Center was at 13427.
    45 points, down 130 points
    from the previous session.
    Today's Shanghai Nonferrous Metals Trading Center SME spot market mainstream trading hours trading general, due to today's delivery factors, the morning futures price maintained a downward trend, resulting in a light transaction, later with the futures rebound, buyers to receive the enthusiasm climbed, the premium also rose from the morning C30 yuan / ton, to B10 yuan / ton
    .

    News: Recently, China's aluminum industry has suffered from overseas double-reverse, India and the United States continue to restrict the export of aluminum products to China, short-term domestic aluminum exports will continue to be affected, coupled with the current primary aluminum production of 5.
    49 million tons in January-February, an increase of 15.
    6% over last year, the domestic aluminum market continues to maintain a state of oversupply, at the same time, high inventories make the market continue to be cautious about the future market, pay attention to the reaction of the market after today's Fed rate hike has been delivered after the market consumption inventory
    .

    Technically, the main KDJ of Shanghai aluminum continued to have a dead fork, and there were signs of bottoming, and the MACD dead fork opened down again and penetrated the 0 axis
    .
    At present, the 60-day moving average is strongly supported around 13550 yuan
    .
    It is expected that tomorrow's spot aluminum price will resume the state of large discount, and the quotation is around
    13500 yuan / ton.

    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.