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    Home > Chemicals Industry > New Chemical Materials > Good news or continue fermentation Aluminum prices still have upside in the short term

    Good news or continue fermentation Aluminum prices still have upside in the short term

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Last Friday night, the main force of Shanghai aluminum opened at 13335 yuan / ton, the beginning of the session long position closed, Shanghai aluminum shock downward, low touched 13250 yuan / ton, supported by the 10-day moving average, and then driven by the surrounding metals, bulls actively entered the market, aluminum prices rebounded, the high recorded 13450 yuan / ton, the end of the session short-term bulls profit exit, aluminum prices high volatility closed at 13390 yuan / ton
    。 On Monday, Shanghai aluminum opened at 13395 yuan / ton, after the opening of the bears left the market one after another, a small number of bulls took advantage of the trend to increase positions, aluminum prices continued to climb through the 20-day line resistance touched 13595 yuan / ton, and then dragged down by the surrounding metals, Shanghai aluminum early entry bulls left the market one after another to avoid safety, giving up part of the rise to close at 13445 yuan / ton
    .

    Aluminum prices

    In terms of external trading, London aluminum opened at 1754.
    5 US dollars / ton in the morning, and Lun aluminum followed the trend of domestic Shanghai aluminum during the Asian session, touching 1762.
    5 US dollars / ton at the beginning of the session, and then fluctuated in a narrow range near the daily moving average, the Asian market gave up some of its gains at the end of the session, entering the European trading session Lun aluminum tried to rise to encounter strong pressure from the daily average, quickly drained, the low touched 1744.
    5 US dollars / ton, as of 18:30, Lun aluminum recorded 1735 US dollars / ton, the evening data is light, pay attention to the surrounding metal trend and domestic Shanghai aluminum
    。 Although Lun aluminum opened high and low today, it still stands above all moving averages, and even if it pulls back continuously in the evening, it will first test the support of the 20-day moving average below
    .

    In terms of the market, aluminum futures fluctuated
    at a high level before noon that month.
    Shanghai transaction concentration is 13550-13560 yuan / ton, for the month discount 40-30 yuan / ton, Wuxi transaction concentration 13530-13550 yuan / ton, Hangzhou transaction concentration 13580-13600 yuan / ton
    .
    Aluminum opened an upward channel on Friday, the holder stabilized his mind, controlled the shipment, the middleman had a low willingness to receive the goods, but did not dare to move, downstream enterprises on Monday a little wait-and-see, according to the just need to purchase, the overall transaction showed a wait-and-see and tug-of-war phenomenon
    .
    Aluminum fell to close at 13490 yuan / ton in the afternoon of the month, down 100 yuan / ton from before the afternoon, the holder adjusted the price with the market, Shanghai quotation concentration 13530-13550 yuan / ton, Wuxi quotation concentrated 13490-13510 yuan / ton, the sudden change of the plate, middlemen cautious mood, only a small number of transactions
    in the afternoon.

    In terms of inventory, data show that as of December 12, the total social aluminum inventory in the five places in the country was 303,000 tons, an increase of 10,000 tons from last Thursday, and the main inventory increased from Shanghai and Wuxi
    .
    At present, the social stock of aluminum ingots has only recovered to 300,000 tons, which is still at an absolute low; At the same time, considering tomorrow's aluminum enterprise joint price insurance meeting, or again limiting production or storage and other means to raise aluminum prices, the short-term strength of the aluminum market is on
    the larger side.
    On the plate, Shanghai aluminum fell back after testing the resistance level of 13,500, and there is still resistance in the short term; the joint meeting of aluminum enterprises has a significant impact on aluminum prices, and the positive effect or continues to ferment.

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