echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Long and short operation is not yet clear, and the Shanghai aluminum market can be mainly waited and seen for the time being

    Long and short operation is not yet clear, and the Shanghai aluminum market can be mainly waited and seen for the time being

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai aluminum main contract 1707 around 14080 yuan / ton around a narrow range, performance resistance to fall in other base metals, intraday trading at 14140-14040 yuan / ton, the end of the close at 14085 yuan / ton, the current Shanghai aluminum operating range is getting narrower, long and short direction breakthrough is imminent
    .
    At the same time, the positive price difference between Shanghai-aluminum 1706 and 1707 contracts narrowed to 75 yuan / ton
    .

    Shanghai aluminum

    External trend: LME aluminum continued to rebound today, the highest intraday touched 1968 US dollars / ton, close to the previous high of 1973 US dollars / ton, of which 3 months Lun aluminum now rose 0.
    13% to 1962 US dollars / ton, the current Lun aluminum technical form is stronger than Shanghai aluminum, the technical support below focus on 1900 US dollars / ton
    .

    Macro: The Asian dollar index extended its nearly one-week low and is now trading around 97.
    12, near a more than six-month low
    .
    At the same time, as of May 20, the number of initial jobless claims in the United States was 234,000 in the week, which was at a very low level, and the average number of initial jobless claims fell to 235,300, a 44-year low, indicating that the US labor market continues to tighten, once again providing support
    for the Fed's interest rate hike in June.
    Aluminum industry information, the total social inventory of domestic electrolytic aluminum in the five places was 1.
    169 million tons, down 05,000 tons from last Thursday
    .

    Spot: On May 26, Shanghai aluminum trading concentrated 13920-13940 yuan / ton, the discount for the month was 100-90 yuan / ton, Wuxi transaction concentrated 13920-13940 yuan / ton, Hangzhou transaction concentrated 13930-13950 yuan / ton
    .
    On the last day before the holiday, the holders of goods are stable shipments, and the downstream enterprises that have not yet completed the preparation continue to receive goods, traders are mainly for downstream pick-ups, cautious acceptance before the holiday, the overall transaction shows the characteristics of the pre-holiday, and the downstream pre-holiday stocking slowly
    ends.

    Intraday Shanghai aluminum 1707 contract oscillation sorted out to 14085 yuan / ton, long and short operation is not clear, in the past month Shanghai aluminum market taste the same wax, there is no better investment opportunity, can wait and see for the time
    being.

    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.