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February 14 Shanghai aluminum morning review

 Last Update: 2022-12-08
 Source: Internet
 Author: User

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aluminum plant propagation

helium short supply

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Overnight Shanghai aluminum main contract opened at 14370 yuan / ton, after the opening aluminum price around the daily moving average narrow range, then short funds closed led by aluminum prices passively upward touch 14440 yuan / ton, high attracted speculative short entry, aluminum prices gave up gains, the end of the session long and short successively left the market Shanghai aluminum closed at 14355 yuan / ton, Shanghai aluminum index position decreased by 2044 hands to 765886 lots, pre-holiday funds are still mainly closed positions, today Shanghai aluminum main contract continues to test the effectiveness of 5/10 daily moving average support, The estimated operating range is 14300~14450 yuan / ton, and the spot discount is 260~220 yuan / ton
.

Shanghai aluminum

In terms of the market, on the same day, the spot price of SMM A00# aluminum was 14010 yuan / ton, up 140 yuan / ton from the previous day, and the discount was 350 yuan / ton compared with the near-month contract.

Cargo holders are relatively active in shipments, middlemen's willingness to receive goods has fallen, transactions are scarce, and downstream enterprises' willingness to receive goods is cold
.
The overall transaction showed a light
pre-holiday appearance.

Aluminum spot discount range is 100-200 yuan / ton recently, short-term inventory pressure coupled with pre-holiday reserve is not as expected, aluminum prices are weak
.
However, the peak season after the Spring Festival is approaching, and the inventory pressure will weaken, so the space for aluminum prices to decline may be limited, and it is expected to rebound
in the later stage.
In summary, the structure of aluminum supply and demand is gradually improving, and the cost support below is obvious, aluminum prices are expected to stabilize and rebound, you can consider buying light positions after the Spring Festival
.

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