echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > June 3 aluminum market morning review

    June 3 aluminum market morning review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight, the aluminum market at the beginning of the long and short game balanced, Shanghai aluminum around 12080 yuan / ton shock, affected by the direct release of aluminum Lun aluminum, under the pressure of bears, Shanghai aluminum briefly leaked to 11970 yuan / ton, bulls actively responded, the situation was glued again, Shanghai aluminum rebounded around 12045 yuan / ton wide oscillation, closing at 12030 yuan / ton
    .
    The external aluminum market was under pressure, of which the three-month Lun aluminum fell 1.
    97% to 1539.
    5 US dollars / ton, and the daily closing price hit a low since May 13 this year
    .

    Aluminum City

    Market: On June 2, Shanghai aluminum trading concentrated 12470-12490 yuan / ton, and the premium for the month was 30-40 yuan / ton
    .
    Holders are willing to ship positively, the recent period of aluminum consolidation, spot premium slightly declined, attracting middlemen to replenish at low prices, futures aluminum did not rise, downstream willingness to receive goods has not yet picked up, only on-demand procurement, the overall transaction is concentrated among
    traders.

    Inventories: LME aluminium stocks reported 2515675 tonnes as of June 2, down 4,500 tonnes from yesterday and close to the low of 2485275 tonnes set on Jan.
    16, 2009; At the same time, as of May 27, the previous aluminum inventory reported 246627 tons, a weekly decrease of 24,406 tons or 9%, the ninth decrease in ten weeks, close to the low point since April 30 last year
    .

    Overnight, Shanghai aluminum fell under pressure, and its performance was relatively resistant to the decline of Lun Aluminum, which was suppressed
    by the strengthening of the US dollar index.
    However, at present, Shanghai aluminum is still running at the intersection of moving averages, and China's manufacturing PMI performance in May is not good, and aluminum prices may fluctuate
    in the short term.
    It is recommended that the Shanghai aluminum 1607 contract can be sold high and low between 12150-11850 yuan, and the stop loss is 100 yuan / ton
    each.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.