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    Home > Chemicals Industry > New Chemical Materials > Market bulls are not confident that Shanghai aluminum gave up most of the previous day's gains

    Market bulls are not confident that Shanghai aluminum gave up most of the previous day's gains

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    On Wednesday, the Shanghai aluminum 1811 contract opened at 14555 yuan / ton in the morning, and the opening fell all the way, piercing the 60-day moving average in a short period of time, testing the lowest price of the day at 14400 yuan / ton, and struggling slightly back to 14445 yuan / ton at the end of the session, but the upward weakness fell again at the low level of 14395 yuan / ton, and finally closed at 14400 yuan / ton, down 115 yuan / ton, down 0.
    79%.

    Shanghai aluminum

    In terms of the external market, Lun aluminum opened at 2057.
    5 US dollars / ton in the morning, opened a long white line to test 2066, Asian trading session opened high and low, shock decline to test 2052 US dollars / ton, and then hovered slightly, as the dollar index opened a new round of rise, Lun aluminum fell at the end of the Asian session to test 2039 US dollars / ton
    。 Entering the European trading session, Lun aluminum began to climb at a low level, testing 2058.
    5 US dollars / ton, but under the high of the US index and the confirmation of Hydro's resumption plan, Lun aluminum rose weakly, once again opened the downward road, touched down 2038 US dollars / ton, as of 17:45, Lun aluminum tail price slightly recovered, closing at 2045 US dollars / ton
    .

    In the spot market, aluminum fell all the way before noon of the month, and stabilized at the end of the day
    .
    Shanghai transaction concentration 14360~14400 yuan / ton, discount for the month 30~20 yuan / ton, Wuxi transaction concentration 14360 ~ 14400 yuan / ton, Hangzhou transaction concentration 14400 ~ 14420 yuan / ton
    .
    Holders of stable shipments, some middlemen choose to purchase spot to pay long orders, aluminum prices are down, downstream companies choose to wait and see, and the overall transaction is colder
    than yesterday.
    In the late afternoon, aluminum continued to decline that month, and the transaction price in East China was 14340~14370 yuan / ton
    .

    During the day, the main position of Shanghai aluminum has been changed to the 1812 contract, and the Shanghai aluminum 1812 contract also showed a unilateral downward trend, closing at 14425 yuan / ton
    .
    The 1811 and 1812 contracts both closed at the black line, short into the long flat, aluminum prices gave up most of the previous day's gains, the weekly KDJ line direction downward, MACD red bar shorter
    .

    Stimulated by the decline in domestic and foreign alumina prices, coupled with the confirmation of the resumption of production by 50% of Hydro's production capacity in the early stage, the confidence of market bulls is insufficient, and it is expected that it will be difficult to achieve an effective upward breakthrough in the short term under the background of maintaining a high level of the US dollar index, and it is expected to continue to test the 5-day moving average, paying attention to the development of the US dollar index and related macro events
    .

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