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July 16 Shanghai aluminum morning review

 Last Update: 2022-12-11
 Source: Internet
 Author: User

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Last Friday night Shanghai aluminum main force opened at 14075 yuan / ton, bulls lack of confidence, Shanghai aluminum main force around the daily moving average oscillation, the high recorded 14095 yuan / ton, bulls are not confident, coupled with Lun aluminum fall, triggered the short entry, Shanghai aluminum main force down, low touched 14025 yuan / ton, then a small repair, closed at 14050 yuan / ton
.
The position increased by 2700 lots to 279206 lots
.
The instant Shanghai ratio was 6.
90, maintaining
Friday's ratio.

Shanghai aluminum

In terms of news, on the one hand, the domestic bauxite supply is tight and alumina plants have successively announced production cuts due to profit contraction, electrolytic aluminum production costs continue to rise to support aluminum prices, on the other hand, domestic downstream consumption has entered the traditional off-season, and the "Tepp meeting" is imminent, the market has certain expectations for the relaxation or cancellation of Rusal sanctions, and the news may further pressure aluminum prices in the short term
.

Affected by the weakness of the external market, Shanghai aluminum weak shock, at the same time, the rapid rise of alumina prices, so that aluminum prices have been supported to a certain extent, and it is expected to run 13950~14150 yuan / ton
in the day.
On the last trading day of the 1807 contract of the month, the spot discount is expected to be 20 yuan / ton to 20 yuan / ton
.

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