echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Brief review of Shanghai aluminum on August 4

    Brief review of Shanghai aluminum on August 4

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    As of the close of 3 p.
    m.
    on Thursday, the main 2209 contract of Shanghai aluminum closed up at 18190, up 25, or 0.
    14%.

    Shanghai aluminum maintained a volatile trend during the day, closing at the doji
    at the end of the day.
    Due to the greater pressure above the 5-day moving average, the impulse energy on Shanghai aluminum was insufficient, and the late rise narrowed to 0.
    14%.

    Shanghai aluminum

    In terms of news, the State Grid Corporation announced that it will start construction of the "four exchanges and four direct" UHV projects within this year, and accelerate the preliminary work
    of UHV projects such as "one communication and five directs".
    UHV projects are expected to stimulate aluminum consumption, but the volume is relatively limited
    .
    In addition, it is recommended to continue to pay attention to European energy issues
    .

    Macro aspect, geopolitical tensions intensified, the Fed in September or again high-intensity interest rate hike, risk aversion is still there, so the short-term Shanghai aluminum trend is still under pressure, or around 1.
    79-18,300 oscillations, August traditional off-season, aluminum supply pressure is not reduced, and macro events are more uncertain, it is recommended to wait and see
    .

    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.