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Brief review of Shanghai aluminum on August 29

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

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The main 1810 contract of Shanghai aluminum opened at 14955 yuan / ton this morning, the opening price was slightly sorted out to test the lower 14905 yuan / ton, and then the bulls entered the market one after another to pull the price slightly up to 14995 yuan / ton, but then the bulls took a profit and left the market, and the high of Shanghai aluminum fell back to 14965 yuan / ton up and down
。 As the domestic market's concerns about foreign alumina prices have faded, without further forward momentum support, the bulls reduced their positions again, Shanghai aluminum then stepped down the ladder, began to sort out the price in a narrow range around 14870 yuan / ton, during the period touched down 14840 yuan / ton, today closed negative, standing firm on all moving averages, closing at 14875 yuan / ton, up 90 yuan / ton, up 0.
61%.

Shanghai aluminum

Today's South China South China aluminum ingot quotation of 14910-15010 yuan, the average price of 14960 yuan, up 200 yuan, the futures price rose sharply to maintain a high level, traders shipment sentiment is high, middlemen receive goods better, downstream performance is general, market trading has rebounded
.
The mainstream transaction price is concentrated between 14940-14970 yuan, which is -20~10 yuan
higher than the average price of South China Reserve.

Today's South Reserve East China aluminum ingot quotation of 14810-14850 yuan, the average price of 14830 yuan, up 200
.
Yangtze River: 14790-14830, 14810 up 190
.
The basis is suitable, traders are more willing to receive goods, and the holders are also slightly priced out, and the transaction is
acceptable.
The transaction price is 14820 yuan ~ 14830 yuan, which is a premium of -10 ~ 0 yuan
compared with the average price of South Reserve East China.

Yesterday's foreign alumina shipment delay and maintenance production reduction news has been digested by the domestic market most of the half, the market returned to rationality, and the dollar index also recovered yesterday's decline, so today Shanghai aluminum has a pullback, but in the long run, cost support still exists, is expected to maintain a strong shock in the short term, continue to pay attention to domestic and foreign alumina related dynamics, dollar index and related macro data
in the evening.

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