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    Home > Chemicals Industry > New Chemical Materials > August 8 Shanghai aluminum morning review

    August 8 Shanghai aluminum morning review

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    Overnight Shanghai aluminum opened at 15195 yuan / ton, the early day bulls took the initiative to enter the market to push up aluminum prices rapidly upward, once touched 15470 yuan / ton, and then long and short cautious operation under the Shanghai aluminum shock above the daily moving average, closed at 15410 yuan / ton, the position increased by 18292 hands to 361650 lots, long positions increased
    .
    Shanghai aluminum recorded three consecutive Yang, or will try to break through the 15500 yuan / ton integer mark, it is expected that today's operating range of 15350 ~ 15530 yuan / ton, spot discount 180 ~ 140 yuan / ton
    .

    Shanghai aluminum

    In terms of the market, on the same day, the spot price of A00# aluminum was 14750 yuan / ton, up 290 yuan / ton from the previous day, and 185 yuan / ton was discounted from the near-month contract.

    In terms of news, black commodities to reduce production capacity and then introduce heating season production restrictions, prices frequently refreshed high, triggering the same by the capacity reduction and heating season production restriction policy of aluminum market resonance, the current electrolytic aluminum illegal production capacity shutdown acceleration, although the fundamentals are still improved, because the inventory continues to record highs, but the heating season production limit is expected to explode, the price continues to break up
    .
    In the short term, the momentum spreads, and the price may continue to rise, although the risk of a correction also rises, as it will take time to realize expectations
    .
    It is not recommended to blindly chase higher when operating, and it is advisable
    to buy back and buy.

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