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May 30 Shanghai aluminum brief comment

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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Aluminum volatility is lower today, with the main contract falling to around 14700 and closing at 14690 at the end of the day, down 70
from the previous session.
The resurgence of trade issues has caused market concerns, and the short-term trend of Shanghai aluminum is expected to be under pressure, but it is expected that the downside space is limited, and it is still difficult to get rid of the recent shock range, and the 14500 mark below may be supported
.
It is expected that tomorrow's spot aluminum will not fluctuate much, and it will be bought
on demand.

Shanghai aluminum

The quotation of South China aluminum ingots was 14590-14690 yuan, the average price was 14640 yuan, down 50 yuan, the futures price fluctuated downward, the willingness of the market to receive goods increased, the holders actively shipped, and the market trading turned active
.
The mainstream transaction price is concentrated between 14620-14650 yuan, which is a premium of -20~10 yuan
compared with the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 14570-14610 yuan, the average price of 14590 yuan, down 50; Yangtze River: 14580-14620, 14600 down 40
.
The base price was lowered, traders mainly shipped, and trading turned weak
after the futures continued to fall.
The transaction price fell from 14600 yuan to 14560, which was -30~+10 yuan
higher than the average premium of South Reserve East China.

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