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    Home > Chemicals Industry > New Chemical Materials > May 11 aluminum market morning review

    May 11 aluminum market morning review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Overnight, the outer aluminum market fluctuated in a narrow range around 1560 US dollars / ton, for five consecutive days, of which 3-month Lun aluminum closed down 0.
    1% to 1559 US dollars / ton, falling back to the level of two weeks ago, highlighting its high technical pullback demand is strong, Lun aluminum below support focus on M200, that is, 1540 US dollars / ton
    .

    Aluminum City

    In terms of market: the domestic market Shanghai inventory is higher, the circulation supply is sufficient, the supply in the Wuxi market is tight, the middlemen and downstream receiving goods are willing to be more active than Shanghai, so the spot price of Wuxi is higher than that of Shanghai, Hangzhou low-price transaction is active, the morning market quickly digests the low-price source of 12000-12010 yuan / ton, and the overall transaction is regionalized
    .

    As of May 10, LME aluminum stocks reported 2,605,500 tons, down 7,125 tons from yesterday, close to the low point set on January 20, 2009 (2552475 tons); At the same time, as of May 6, the previous period of aluminum stocks reported 301439 tons, a weekly decrease of 7,762 tons, the sixth decrease in the past seven weeks, but still close to the level
    of February 19 this year.

    Overall, Shanghai aluminum performed better than London aluminum overnight, because Shanghai aluminum continued to decline after triggering a technical correction, and its reaction to the strength of the US dollar was relatively flat
    .
    It is recommended that the Shanghai aluminum 1607 contract can be backed by 11800 yuan / ton above the dip short, the entry reference is around 11900 yuan, and the target is 12100 yuan
    .

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