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April 29 Shanghai aluminum afternoon comment

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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On Tuesday, the Shanghai aluminum main 2006 contract opened at 12370 yuan / ton in the morning, and after the opening, the bulls continued to increase their positions, and the market rose steadily to 12510 yuan / ton, and then briefly pulled, and the short hedging and reduced positions at the end of the session, and finally closed at 12485 yuan / ton, up 75 yuan / ton from the previous day, or 0.
6%.

Shanghai aluminum

The price of Chinalco East China AOO aluminum ingots was 12,600 yuan / ton, up 70 yuan
.
Recently, the rapid demobilization of domestic electrolytic aluminum inventories, and the local start of non-ferrous metal storage and storage, but the cost-side price is at a low level, and the improvement of aluminum profits may lead to the limitation of the scale of production stoppages, and the support for aluminum prices is weakened, and spot aluminum prices are expected to rise
slightly today.

The internal base metal is only red, and the fundamental demand is good to form a strong support, and the spot premium before the holiday remains high, and the price difference between Guangdong and Shanghai is around
260 yuan / ton.
Today, the main link of Shanghai aluminum has broken the resistance level of 12500 yuan / ton, and it is expected that it will try to stand above this position today, with an operating range of 12300-12600 yuan / ton
.
It is necessary to continue to pay attention to the impact of downstream stocking actions on the demand side, and spot stocks are rising by 60-80 yuan / ton
in the month.

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