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    Home > Chemicals Industry > New Chemical Materials > March 9 Shanghai aluminum morning review

    March 9 Shanghai aluminum morning review

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Overnight Shanghai aluminum 1705 contract opened at 13870 yuan / ton, by the United States ADP data exceeded expectations and caused the market to worry about the Fed March interest rate hike sentiment, Shanghai aluminum center of gravity fell sharply, fell below the 40-day moving average, the low recorded 13670 yuan / ton, as the market sentiment calmed down, short-term bears left the market, long and short formed a balance of power game, aluminum prices rebounded and oscillated around the 40-day moving average lower edge, closing at 13780 yuan / ton
    of the 40-day moving average.
    The trading volume decreased by 97584 lots to 99978 lots, and the position increased by 5950 lots to 289740 lots
    .
    The 40-day moving average encountered repeated tests in the market, although the lower shadow line continued to fall, the entity finally held the 40-day moving average, and it is expected to run 13700~13900 yuan / ton
    within the day.
    Spot discount 190~150 yuan / ton
    .

    Shanghai aluminum

    Overnight Lun aluminum opened at 1882 US dollars / ton, affected by Shanghai aluminum, Asian market afternoon London aluminum around the daily average wide range oscillation, afternoon London aluminum with Shanghai aluminum fell sharply, the low touched 1876.
    5 US dollars / ton, into the European session, Lun aluminum continued the Asian market decline inertia to test the low of 1874 yuan / ton, then touched low back to the daily average, and once climbed up to 1891 US dollars / ton, but then by the United States ADP employment in February far exceeded expectations, the probability of the Fed interest rate hike rose again, Lun aluminum fell under pressure, The low touched $1870.
    5/mt, closing at $1872/mt
    .
    The trading volume increased by 1547 lots to 13101 lots, and the position decreased by 3499 lots to 718503 lots
    .

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