echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Brief review of Shanghai aluminum on March 13

    Brief review of Shanghai aluminum on March 13

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Shanghai aluminum main contract opened at 14250 yuan / ton in the morning, intraday metal fell sharply, Shanghai aluminum also increased positions downward to refresh the previous low, touched 14020 yuan / ton, the end of the day short cover closed at 14075 yuan / ton, Shanghai aluminum index position increased 1078 hands to 811344 lots, because the downstream demand after this year's Spring Festival has not shown the heat of the peak season, especially in the construction profile industry, so short-term supply and demand pressure is large, and the difference in expectations prompts short funds to enter the market more momentum, It is expected that the main contract will run weakly at 13900~14250 yuan / ton next week, or will initially test the integer mark of 14000 yuan / ton, and the pace of consumption recovery still needs to be observed in the medium term
    .

    Shanghai aluminum

    In terms of the market, the cargo holders are actively shipping, the willingness of downstream enterprises to receive goods at low prices has increased, the activity of middlemen has maintained stability compared with yesterday, and the overall transaction is better; After an instant dive of 100, the shipment strength of the holder weakened, the market quotation was 13630-13640, and the discount for the month was 40-30 yuan / ton, but it was close to closing, and there was almost no transaction
    .
    The aluminum fluctuated before noon that month, and suddenly dived 100 yuan / ton
    at the end of the day.
    Before diving, the cargo holders shipped actively, the willingness of downstream enterprises to receive goods at low prices increased, the activity of middlemen maintained stability compared with yesterday, and the overall transaction was better; After an instant dive of 100, the shipholder's shipment strength weakened, and the market was close to closing, and there was almost no transaction
    .

    High inventory, tariff blows, internal worries and external troubles under the weakness of Shanghai aluminum does not change, today Shanghai aluminum continues to fall, intraday fell below the 14,000 mark support, the main 1805 contract closed down 1.
    88% to 13860, down 265 from the previous trading day, the trend, Shanghai aluminum weak unchanged, but cost support, is expected to fall limited, and as the price continues to fall, spot has appeared obvious firm phenomenon, short-term expected narrow range shock, do not rule out a return to 14,000 repeated shocks
    .

    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.