echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 24 aluminum market brief comment

    May 24 aluminum market brief comment

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Brief comment on the aluminum market, Thursday Shanghai aluminum main 1907 contract opened at 14250 yuan / ton in the morning, after the opening of the long position reduction, aluminum prices under pressure downward to the lowest level of the day 14225 yuan / ton, then some short positions closed profit exit, aluminum prices took advantage of the slight recovery; At the beginning of the second trading session, the bulls entered, the aluminum price continued to rise to 14280 yuan / ton, and then the bulls were not confident and reduced their positions by nearly 4,000 lots, the aluminum price lost support and returned to the daytime opening price, and finally closed at 14250 yuan / ton, down 35 yuan / ton, down 0.
    25%.

    Aluminum City

    The quotation of South China aluminum ingots in South China is 14200-14300 yuan, the average price is 14250 yuan, down 60 yuan, the premium of the month is 110 yuan, the market trade atmosphere is cold, the circulation of goods is relatively limited, the high premium inhibits the demand side of mining, the overall transaction is not optimistic, the mainstream transaction price is concentrated between 14240-14250 yuan, which is -10~0 yuan
    higher than the average price of South China Reserve.

    Nanchu East China aluminum ingot quotation 14130-14170 yuan, the average price of 14150 yuan, down 60
    .
    Yangtze River: 14150-14190, 14170, down 30
    .
    Spot prices continued to decline, receivers remained positive, holders increased shipments, market circulation increased supply, and overall transactions were acceptable
    .
    The transaction price is between 14150-14170 yuan, which is between 0~20 yuan higher than the average price of South Reserve East China
    .

    Intraday bulls hesitated, and the resumption of production of Hydro's alumina plant was bearish on the news, dragging down the overnight trading and intraday Shanghai aluminum trend
    to a certain extent.
    It is expected to continue to break the 10-day moving average downward, and it is necessary to continue to pay attention to the long-short situation and the operation of
    alumina at home and abroad.

    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.