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    Home > Chemicals Industry > New Chemical Materials > Aluminum rush back down short-term decline may be limited

    Aluminum rush back down short-term decline may be limited

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
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    On Monday, base metals were mixed, with the Shanghai lead 1810 contract rising 2.
    26%, up ahead, while the Shanghai aluminum 1811 contract rushed back down, trading at 14790-14625 yuan / ton during the day, and closing at 14645 yuan / ton at the end of the day, down 0.
    14%
    on the day.
    In terms of external trading, as of 15:43 Beijing time, the three-month Lun aluminum was reported at 2,045 US dollars / ton, down 0.
    87% per day, and the technical support below focused on 2,000 US dollars / ton
    .

    Period aluminum

    In terms of spot, Shanghai trading concentrated 14600-14620 yuan / ton, the discount of the month was 10 yuan / ton to Pingshui, Wuxi transaction concentration was 14600-14620 yuan / ton, Hangzhou transaction concentration was 14630-14650 yuan / ton
    .
    Cargo holders are actively shipping, middlemen and downstream goods are slightly positive, and the overall transaction is stable and rising
    .

    On the news front, the Asian dollar index stabilized around 95.
    4, maintaining Friday's overnight rally as stronger-than-expected U.
    S
    .
    August non-farm payrolls data consolidated expectations of a Fed rate hike in September.
    In addition, China's August CPI rose 2.
    3% year-on-year, while higher than the expected 2.
    1% and the previous value of 2.
    1%, and the PPI fell slightly to 4.
    1% year-on-year, lower than the previous value of 4.
    6%, indicating that the demand for industrial products is still relatively insufficient
    .
    In the aluminum market, China's exports of unwrought aluminum and aluminum products in August were 517,000 tons, up from 510,000 tons
    in July.

    Overall, Shanghai aluminum continued to fluctuate at a low level, but domestic alumina prices remained firm
    .
    And domestic aluminum inventories continue to decrease, and the decline in aluminum prices may be limited
    .
    Operationally, it is recommended that the Shanghai aluminum 1811 contract can be backed above 14,500 yuan to bargain long, the entry reference is around 14,640 yuan, and the target is 14,800 yuan / ton
    .

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