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On Thursday, base metals rose across the board, bullish sentiment rose, of which Shanghai aluminum changed the daily decline, 1810 contract rose 2.
38%, into the rise leader, Shanghai aluminum 1810 contract gap high open high, intraday trading at 14510-14885 yuan / ton, the end of the closing 14825 yuan / ton, the current aluminum price effectively running above the moving average group, the upward trend is obvious
.
In terms of external trading, as of 15:00 Beijing time, the 3-month Lun aluminum was reported at 2116 US dollars / ton, unchanged from yesterday, but its technical form was slightly weaker than Shanghai aluminum
.
In terms of spot, on August 8, Shanghai aluminum trading concentrated 14630-14660 yuan / ton, the discount for the month was 40-30 yuan / ton, and Wuxi trading concentrated 14620-14660 yuan / ton
.
Holders are active in shipments, but the attitude of price is also relatively firm, spot maintains a small discount, individual large households maintain enthusiasm for receiving goods, other middlemen cautiously accept value-preserving goods, spot prices rose by more than 300 yuan / ton compared with yesterday, downstream enterprises can not accept high prices, only according to just need to purchase, the overall transaction fell
compared with yesterday.
On the news, the Asian dollar index rebounded and is now trading around 95.
25, focusing on the US July PPI
.
In addition, China's CPI in July turned from a decline to an increase, up 0.
3% and up 2.
1% year-on-year, exceeding expectations; The July PPI rose 4.
6% year-on-year and fell 0.
1%
month-on-month.
In terms of the industry, according to the US sanctions against RUSAL, US customers must terminate business with RUSAL before October 23 this year, so if the United States does not lift its sanctions before this, some of RUSAL's project operations will be suspended as early as September
.
In summary, a strong upward breakthrough in Shanghai aluminum will trigger technical buying
.
In addition to the U.
S.
Alcoa strike, if Rusal is not lifted by the US sanctions within the specified time, it will further trigger the operational risks of the RUSAL project and cause supply concerns
.
Operationally, it is recommended that the Shanghai aluminum 1810 contract can be backed above 14650 yuan to bargain price, enter the market reference around 14750 yuan, and target attention to 14900 yuan / ton
.