echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum short-term volatility is strong, wary of high levels to give up gains

    Aluminum short-term volatility is strong, wary of high levels to give up gains

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Monday's Shanghai aluminum main 1910 contract opened at 13930 yuan / ton in the morning, after the opening of the bulls continued to increase positions, the hourly line in the second trading session quickly broke through the 10,000 mark, standing on the Bollinger upper rail, the afternoon opening still continued the morning rally all the way up smoothly, touching 14210 yuan / ton, the highest position since May 28, and finally closed at 14185 yuan / ton, up 270 yuan / ton, up 1.
    94%.

    Period aluminum

    In terms of external trading, Lun aluminum opened at 1775 US dollars / ton in the morning, the performance of the Asian market was sluggish at the beginning, around 1777 US dollars / ton, the volatility was only 3 US dollars / ton, after 10 o'clock driven by the rise of Shanghai aluminum, Lun aluminum got rid of the sideways shock state accelerated upward, the center of gravity in the Asian market moved up to 1785 US dollars / ton in the afternoon, the volatility increased, and the Asian market touched 1793 US dollars / ton at the end of the session; Entering the European trading session, the US index short-term soared, and the bears increased their positions to suppress Lun Aluminum from the high level to fall, giving up a slight gain, as of 16:57 closed at 1784.
    5 US dollars / ton, pay attention to the US index trend and domestic Shanghai aluminum trend guidance
    .

    In the spot market, the performance of aluminum futures in the first trading stage of the month was volatile, and the second trading range began to rise
    .
    In the morning, some traders in Shanghai Wuxi market traded around 13940 yuan / ton, and the opposite plate premium was around 30 yuan / ton, with the rise of aluminum prices, the quotations of the two holders rose and began to concentrate around 13970-13980 yuan / ton, and the opposite plate premium was 20-30 yuan / ton, which was up 30 yuan / ton from last Friday
    .
    In the morning, the shippers shipped OK, with the rise of aluminum, the market wait-and-see mood restarted, because of the optimism of the future market, the holders began to sell at a high price, shipments converged, but the middleman received the goods enthusiastically increased, began to actively receive goods, the market performance received more and less, the actual transaction was poor
    .
    Because the shippers shipped less, and the downstream was also afraid of heights, there was not much
    procurement.
    In the late afternoon, the high level of aluminum hovered slightly and rose again, and some holders concentrated around 14,020 yuan / ton in the afternoon, about 30 yuan / ton for the month's premium, but there were few actual transactions
    .

    It was rumored that the flood in Shandong affected the normal production of the local electrolytic aluminum plant, and the market sentiment mostly expressed concerns about the possible tightening of the supply side, which helped the price of aluminum soar
    .
    It is understood that the transportation of electrolytic aluminum plants in Shandong is currently blocked, but electrolytic aluminum production has not been affected, so it is wary of the high aluminum price being given up part of the gains, but based on the gradual approach of the consumption season, the cost side of alumina is about to bottom the rebound expectations, the short-term aluminum price trend will be strong
    .

    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.