echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Long-short trading tends to be cautious Shanghai aluminum low volatility

    Long-short trading tends to be cautious Shanghai aluminum low volatility

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, base metals generally recovered, indicating that aluminum prices fluctuated at low levels, and long and short trading tended to be cautious
    .
    Among them, Shanghai aluminum fluctuated at a low level, trading at 13710-13795 yuan / ton during the day, and closing at 13785 yuan / ton at the end of the day, up 0.
    07%
    on the day.
    In the external market, as of 15:35 Beijing time, the three-month Lun aluminum was reported at 1952.
    5 US dollars / ton, up 0.
    54% on the day, and the upper pressure level was focused on 1970.
    0 US dollars / ton
    .

    Shanghai aluminum

    In terms of the market, the spot price of Shanghai aluminum is concentrated in 13640-13650 yuan / ton, the premium of the current month is 20 yuan / ton - 30 yuan / ton, the next month discount is 50-40 yuan / ton, the transaction price of Wuxi is concentrated 13640-13650 yuan / ton, and the transaction price of Hangzhou is concentrated 13650-13670 yuan / ton
    .
    Intraday traders and intermediaries performed actively in shipment and receipt, some traders showed reluctance to sell, large households received goods more obviously, downstream receiving was basically on-demand procurement rhythm, and the overall transaction in East China was acceptable
    .

    The Asian dollar index weakened and is now trading around 96.
    845, as the euro and pound rose overnight as the British prime minister's Brexit deal was backed by the cabinet, while the dollar slipped
    further from its 16-month high after the US released CPI data in line with expectations.

    On the industry front, a congressional committee in Brazil has gathered to investigate the leak at Hydro's Alunorte alumina refinery, blaming companies and regulators and demanding continued civil and criminal investigations
    .
    The issue of criminal and civil liability is not only addressed to companies involved in the matter, but mainly to those who have the enforcement and issuance of operating
    licenses.

    Intraday Shanghai aluminum low volatility, affected by the decline of the US dollar index, aluminum prices stopped falling, at the low level of volatility, the spot market traders and middlemen between shipments and receiving performance is active, some traders performance is reluctant to sell, large households receive goods behavior is more obvious, downstream receiving basic on-demand procurement rhythm
    .
    Operationally, it is recommended that the Shanghai aluminum 1901 contract sell high and sell low between 13700-13950 yuan / ton, 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.