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Brief review of the aluminum market on May 7

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Brief comment on the aluminum market, Shanghai aluminum main 1906 contract opened at 13975 yuan / ton this morning, after the opening of the short position reduction, aluminum price respite rose to the highest level of the day 14035 yuan / ton, and then the center of gravity fell back to 14020 yuan / ton in the afternoon near the narrow range; In the afternoon opening period aluminum slightly higher after some bulls left the market with insufficient confidence, the plate was difficult to find support began to shock downward, giving up part of the morning gains, and finally closed at 14010 yuan / ton, up 85 yuan / ton, up 0.
61%.

The daily candlestick recorded a mid-white candle, recovering some of yesterday's decline
.
It is expected that the 5-day moving average will continue to test the 5-day moving average upwards in the evening, and continue to pay attention to the direction of
Sino-US trade negotiations.

Aluminum City

South Reserve South China aluminum ingot quotation of 14000-14100 yuan, the average price of 14050 yuan, down 30 yuan, the month premium of 10 yuan, morning market holders are extremely reluctant to sell, receiving goods for the mainstream, after the mayor single outflow, the trading atmosphere weakened, the overall transaction was better than yesterday, the mainstream transaction price was concentrated between 14050-14060 yuan, compared with the average price of South China 0~10 yuan
.

Nanchu East China aluminum ingot quotation 14030-14070 yuan, the average price of 14050 yuan, down 30
.
Yangtze River: 14040-14080, 14060 down 30
.
Holders are actively shipping, the market circulation is abundant, and the overall transaction is acceptable
.
The transaction price is between 14040-14050 yuan, which is a premium of
-10~0 yuan compared with the average price of South Reserve East China.

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