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    Home > Chemicals Industry > New Chemical Materials > Oversupply concerns still exist, and aluminum is under greater pressure

    Oversupply concerns still exist, and aluminum is under greater pressure

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
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    On Monday, the main contract of Shanghai aluminum opened at 14540 yuan / ton in the morning, fell slightly to 14495 yuan / ton at the beginning of the session, and quickly pulled up to touch 14620 yuan / ton, and then fluctuated in a narrow range above the daily moving average, and in the afternoon, Lun aluminum entered the rally and played, Shanghai aluminum passively followed up to close at 14625 yuan / ton, up 130 yuan / ton, or 0.
    90%.

    The holdings of the Shanghai Aluminum Index decreased by 13,076 lots to 821952 lots, and the cumulative reduction of positions in the past three months was concentrated
    .

    Period aluminum

    In terms of the external market, in the morning, Lun aluminum opened at 2279 US dollars / ton, the price of aluminum rose slightly at the beginning of the session, and then around the daily average of 2286 US dollars / ton a narrow range of shock, in the afternoon Lun aluminum again entered the rhythm of rally, and continued to the end of the Asian market, once touched 2348 US dollars / ton, as of 17:23, Lun aluminum reported 2347.
    5 US dollars / ton, continue to pay attention to tracking the Rusal incident, short-term is expected to continue to maintain a strong position
    .

    In terms of market, the transaction volume in Shanghai is concentrated 14450~14460 yuan / ton, 70~60 yuan / ton for the current month, and 40~30 yuan / ton
    for the next month.
    Wuxi transaction concentration is 14450~14460 yuan / ton, Hangzhou transaction concentration is 14440~14450 yuan / ton
    .
    Holders are actively shipping, some middlemen are actively receiving goods, downstream enterprises purchase on demand, the purchase volume is stable, and the overall transaction is warmer
    than last Friday.
    In the late afternoon, aluminum rose that month, and the transaction price in East China moved up to 14470~14490 yuan / ton
    .

    Rio Tinto announced on Monday that it encountered force majeure factors, the market is worried that the supply has tightened again, and the peripheral aluminum aluminum continues to rise sharply, driving the domestic aluminum price to temporarily run strongly, but the domestic aluminum inventory in the last period increased by more than 20,000 tons in the week of April 16, the overall inventory pressure is still in and in the future, with the full liberalization of aluminum production, oversupply concerns still exist, putting greater pressure
    on aluminum prices.
    Technically, the main KDJ golden cross and MACD golden cross of Shanghai aluminum have a strong short-term price trend, and the market can be dominated
    by high short operation.

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