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    Home > Chemicals Industry > New Chemical Materials > November 7 Shanghai aluminum afternoon comment

    November 7 Shanghai aluminum afternoon comment

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Overnight Shanghai aluminum main continuous open at 13915 yuan / ton, early intraday long position, the price briefly tested 13945 yuan / ton, then slightly soft, began at 13915 yuan / ton a narrow range of fluctuations, after the dollar index gradually rose, Shanghai aluminum main continuous pressure all the way down to the low level of 13835 yuan / ton, fell below the lower band of the Bollinger band, fell below the daily moving average, yesterday finally closed at 13850 yuan / ton, down 35 yuan / ton, down 0.
    25%, closed at the small black line, overnight intraday green fat red thin, Aluminum metal capital favor is not high, the support below is not strong and long-term hovering, it is difficult to maintain a high level by the short blow, because there is no obvious positive news support today, it is expected that today's operating range is between 13800 ~ 13950 yuan / ton, and the premium is 70 yuan / ton ~ 30 yuan / ton
    .

    Shanghai aluminum

    In terms of spot, holders maintain a positive attitude towards shipments, middlemen and downstream bargain hunting slightly received, but the overall transaction activity is still difficult to call good, Chinalco has not yet received goods in Guangdong, aluminum rod processing fees slightly reduced, on the whole, inventories continue to decline, alumina prices stop falling and pick up, or support aluminum prices, but consumption weakens, inhibits aluminum prices upward momentum
    .

    Consumption was weak, but the decline in production due to production cuts eased some of the pressure, and the stabilization and recovery of costs also played a certain support
    .
    Domestic and foreign macros still have a large impact on market sentiment, which in turn affects short-term price fluctuations
    .
    Without the stimulus of further production cuts, short-term price rebound is difficult, but it is difficult for prices to fall
    sharply under the support of costs.

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