echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Recent fundamental changes are not much, Shanghai aluminum continues to consolidate strongly

    Recent fundamental changes are not much, Shanghai aluminum continues to consolidate strongly

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the main contract of Shanghai aluminum 1905 opened at 13735 yuan / ton
    in the morning.
    After the opening, Shanghai aluminum oscillated in a narrow range around the 5-day moving average, and the low touched 13725 yuan / ton
    .
    Subsequently, the trend of Shanghai aluminum strengthened, and the shock upward high touched 13775 yuan / ton, and the end of the session fell back to close at 13755 yuan / ton
    .

    Shanghai aluminum

    In terms of external disk, Lun aluminum opened at 1903 US dollars / ton
    in the morning.
    During the Asian session, Lun aluminum maintained a narrow range of oscillation, and the low touched 1898 US dollars / ton
    .
    In the afternoon, the trend of Lun aluminum strengthened, and as of 15:00, Lun aluminum was reported at 1906 US dollars / ton, crossing the 10-day moving average
    .
    After entering the European session, Lun aluminum first rose and then declined, after touching 1912.
    5 US dollars / ton at a high level, due to the sharp rise of the US dollar, Lun aluminum gave up its gains, fell below 1900 US dollars / ton, under pressure to test the low of 1892 US dollars / ton and then rose again, to 18:30 Lun aluminum reported 1898 US dollars / ton, down 4 US dollars / ton
    .

    In terms of the market, aluminum futures showed wide volatility before noon of the month, and the center of gravity in the second trading stage rose slightly earlier
    .
    The transaction price in Shanghai is between 14020~14030 yuan / ton, and the premium of the month is around 310~330 yuan / ton, the transaction price is only about 10 yuan / ton compared with yesterday, the transaction price in Wuxi is between 14020~14030 yuan / ton, and the transaction price in Hangzhou is between
    14040~14060 yuan / ton.
    The intraday aluminum price fell slightly, while the premium expanded to more than 300 yuan / ton, the market supply was more sufficient, the transaction between traders was active, and the number of shipments increased
    significantly compared with the previous day.
    The willingness to receive goods downstream is acceptable, and due to the tax reduction interest rate difference and the upcoming weekend inventory, the enthusiasm for intraday procurement has not decreased
    significantly.
    In the late afternoon, aluminum fell slightly, the market transaction price was between 14000~14020 yuan / ton, and the opposite plate rose around 300 yuan / ton, only a small number of transactions between traders, and there was almost nothing
    downstream.

    The recent fundamental changes are not large, and the decline in inventories reflects that consumption continues to recover as expected, but due to the tax reduction problem, the A00 aluminum price continues to remain at the 10,000 mark, and Shanghai aluminum is under pressure above, and it is expected that Shanghai aluminum will continue to maintain a range of volatility above the 5-day moving average and continue to consolidate
    strongly.

    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.