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Aluminum rose sharply East China aluminum market wait-and-see sentiment

 Last Update: 2022-12-05
 Source: Internet
 Author: User

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On the last trading day of the month, Xinjiang Changji stopped the announcement of illegal production capacity, and the aluminum futures soared into the sky before noon, recording a high of 14,605 yuan / ton, and then fell back to around 14,500 yuan / ton
.
Intraday aluminum soared, East China aluminum market wait-and-see sentiment is strong, the overall transaction is more general
.

East China aluminum

Shanghai transaction concentration is 14400-14420 yuan / ton, the discount for the month is 120-100 yuan / ton, Wuxi transaction concentration is 14390-14410 yuan / ton, Hangzhou transaction concentration is 14420-14430 yuan / ton
.
Spot prices soared 500 yuan / ton, holders shipped to maintain stability, some traders were bullish on the market, appropriate replenishment, returned from the weekend, the wind and clouds suddenly changed, downstream enterprises were caught off guard, it was difficult to accept such a high price, coupled with today's last trading day, downstream chose to wait and see, the overall transaction showed wait-and-see suppressed
.

Today's Shanghai aluminum main month 1706 contract opened at 14215 yuan, intraday high 14995 yuan low 14190 yuan, and closed at 14485, up 320 yuan / ton
from the previous trading day.
The strong economic growth in the first quarter of the country supported the outlook for metal demand, and today's Shanghai aluminum rose sharply, tomorrow coincides with the delivery month, beware of pullbacks, and the market remains on the sidelines
.

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