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August 23 Shanghai aluminum morning review

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

Tags

lng spot price

copper aluminum corrosion

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Overnight, the main force of Shanghai aluminum opened at 14410 yuan / ton, and after the opening, Shanghai aluminum maintained range volatility, and the low touched 14370 yuan / ton
.
The end-of-session high touched 14470 yuan / ton, closing at 14455 yuan / ton
.
The night gap opened high at 14505 yuan / ton, after the opening of the bears left the market to escape, bulls entered, Shanghai aluminum rushed high to touch 14710 yuan / ton, the high was suppressed by bears, the end of the session 14645 yuan / ton, up 160 yuan / ton, up 1.
6%.

Shanghai aluminum

From the perspective of fundamentals by variety, the upstream end is stimulated by further news in the short term, and the short-term domestic copper spot end premium has narrowed, but the spot end is still relatively firm, and the fundamentals are in a multi-sided pattern
.
In view of the short-term alumina price continued to rise, Chinalco price willingness is strong, the lower cost side support is also more obvious, in addition, the market for domestic industrial policy and the second half of the year demand side strong expectations, aluminum futures price continues to rise probability is higher
.

During the day, Shanghai aluminum rushed back down to close Xiaoyang, but the trading position fell, and the short-term market wait-and-see sentiment was strong, which may remain volatile
temporarily.
The news of the strike has a positive effect on aluminum prices, and Shanghai aluminum may remain strong in the medium term under the support of fundamentals
.
Shanghai aluminum upper pressure 15000, lower support 20-day moving average 14500
.

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