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    Home > Chemicals Industry > New Chemical Materials > Nonferrous downstream demand weakened and aluminum continued the previous day's weakness

    Nonferrous downstream demand weakened and aluminum continued the previous day's weakness

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Tuesday, the main contract of Shanghai aluminum at 1908 opened at 13660 yuan / ton
    in the morning.
    After the opening, Shanghai aluminum continued the previous day's weakness, bears slightly increased their positions, Shanghai aluminum shock operation low touched 13630 yuan / ton
    .
    The low level led to the short profit to close the position, and the Shanghai aluminum shock rebounded, closing at 13710 yuan / ton
    .

    Period aluminum

    In terms of external disk, Lun aluminum opened at 1794 US dollars / ton
    in the morning.
    During the Asian session, Lun Aluminum maintained an anti-decline trend, based on the daily moving average, the shock touched 1798.
    5 US dollars / ton, pierced the upper 5-day moving average, and was blocked by the 1800 US dollars / ton mark
    .
    In the afternoon, Lun aluminum maintained a narrow range, and as of 15:00, Lun aluminum was reported at 1796.
    5 US dollars / ton
    .
    After entering the European session, Lun Aluminum was dragged down by the general decline of other metals and fell sharply to make up for the decline, and the shock downward once fell below the low of the 20 moving average and touched 1777 US dollars / ton
    .

    In terms of the market, aluminum futures maintained range-bound
    volatility before noon of the month.
    Shanghai spot trading price is between 13630-13650 yuan / ton, the current month plate is pasted between 20 yuan / ton ~ flat water, down 100 yuan / ton from the previous day's price, Wuxi spot price is between 13640-13660 yuan / ton, Hangzhou price is between
    13670-13690 yuan / ton.
    Spot aluminum prices fell by more than 100 compared with the previous day, the willingness of holders to ship converged, reluctant to sell at a high price, the willingness of middlemen to receive goods at low prices increased significantly, today's market performance received more and less, and the actual transaction was slightly
    deadlocked.
    Downstream manufacturers continue to purchase on demand, not sensitive to the sharp drop in prices, or suggest that downstream consumption does show signs of
    weakening.

    Entering the third quarter, in addition to lead, nonferrous downstream demand turned weak, Shanghai aluminum due to still a certain consumption support decline is relatively small, but Shanghai aluminum in a weak shock trend remains unchanged, still need to continue to pay attention to the market consumption for the further verification of expectations, in the social aluminum ingot inventory is still falling is difficult to appear smoothly
    .
    It is expected that the Shanghai aluminum shock will test the bottom support, and the short-term target is 13500 yuan mark
    .

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