echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 5 Shanghai aluminum morning review

    May 5 Shanghai aluminum morning review

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight Shanghai aluminum main force opened at 13880 yuan / ton, early day aluminum briefly touched 13950 yuan / ton, but other metals fell dragged down, bulls risk aversion gradually thickened, aluminum downward, low 13815 yuan / ton, other metals after the fall, Shanghai aluminum performance is more eye-catching, bears fled, aluminum rebounded to close near the 5-day moving average of 13920 yuan / ton
    .
    The trading volume decreased by 175,000 lots to 105894 lots, and the position decreased by 3,704 lots to 237778 lots
    .
    The policy of profit and other metals of the short reverse game, the aluminum performance is strong resistance, is expected to run 13800~14000 yuan / ton
    in the day.
    Spot discount 70~30 yuan / ton
    .

    Shanghai aluminum

    In terms of the market, the holders sell at a high price, some middlemen are bullish on spot, the inquiry is active, and the activity of low-price transactions has increased, due to the rumors of illegal production capacity in Shandong, downstream enterprises are more willing to accept goods at low prices, the overall transaction is more active, and sellers dominate the market
    .

    In terms of inventory, according to statistics, the domestic electrolytic aluminum social inventory was 255,000 tons in Shanghai, 445,000 tons in Wuxi, 82,000 tons in Hangzhou, 77,000 tons in Gongyi, 367,000 tons in the South China Sea, and a total of 1.
    226 million tons in the five places, an increase of 20,000 tons
    from last Thursday.

    At present, the supply and demand performance of the domestic aluminum market continues to be weak, and the fog of policy has not yet dissipated
    .
    Before the policy is out, aluminum prices may still continue to fall, the previously recommended light short orders continue to hold, stop loss 14200 yuan / ton, the first target 13700-13800 area
    .
    In addition, it should be noted that the online rumor that Shandong's illegal production capacity should be removed, and the performance of Shanghai aluminum is relatively resistant to decline, and it is necessary to pay attention to whether the authenticity can be implemented
    .

    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.