echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Long bears are more cautious Shanghai aluminum range oscillation

    Long bears are more cautious Shanghai aluminum range oscillation

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the Shanghai aluminum main 2003 contract opened at 14250 yuan / ton in the morning, and after the opening, the long position increased by more than 3,000 lots, helping the plate to rush to 14375 yuan / ton, and then a small number of bears entered the market, and the market fell slightly from the high to the level at the beginning of the session; In the afternoon, the market was long and short, and Shanghai aluminum operated in a narrow range of 14240-14295 yuan / ton, and finally closed at 14280 yuan / ton, down 20 yuan / ton, or 0.
    14%.

    Period aluminum

    In terms of external disk, Lun aluminum opened at 1809.
    5 US dollars / ton
    in the morning.
    During the Asian session, Lun aluminum steadily stepped on the 5/20 daily moving average oscillation upward, the European market initially explored to a high of 1815 US dollars / ton, and then as the pound weakened to boost the US index, the outer metal was suppressed, part of the morning gains, as of 18:01, Lun aluminum closed at 1813 US dollars / ton, temporarily closed a small white line, mainly long positions, below the 5-day moving average support
    .
    The evening shock is expected to run at $1805-1820/mt
    .

    Aluminum maintained range-bound
    volatility until noon of the month.
    In the morning, the transaction price of Shanghai and Wuxi market is concentrated between 14560 ~ 14580 yuan / ton, after 10:30 the next month The ticket transaction price is between 14530 ~ 14550 yuan / ton, the month is between 14550-14560 yuan / ton, the opposite plate premium between 120-130 yuan / ton, as the aluminum falls, the market price is gradually concentrated between 14510-14530 yuan / ton, Hangzhou transaction price is concentrated between 14520 ~ 14540 yuan / ton, The mainstream transaction price in East China increased by more than 200 yuan / ton
    compared with the previous trading day.
    The market transaction heat is obviously not as hot as the previous two days, consumption is weaker under the background of weak supply and demand, and holders tend to reduce prices and dump goods in the later stage, but consumption has never improved
    .
    The downstream performance is calm, and after the small year, it basically concentrates on the holiday state
    .
    In the late afternoon, aluminum maintained a narrow range, and the market holders' quotations were around 14510 yuan / ton, and the opposite plate was around 100 yuan / ton, and there was almost no transaction
    .

    Although the bears increased their positions unilaterally by more than 4,000 lots during the day, the bulls performed relatively firmly, and the main price still fluctuated
    at the high level of the upper Bollinger band.
    At present, the confidence of the bulls in the front-month contract is strong, and the accumulation range is less than expected, and it also matches the plate price from the fundamentals, so the spread of the next month of the month still does not rule out the possibility
    of further widening.
    However, near the weekend, and at this high, it is expected that if there is no unexpected news, the bulls and bears will be more cautious, and Shanghai aluminum will fluctuate between 14150-14350 yuan / ton
    .

    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.