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Shanghai aluminum afternoon comment on May 29

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Overnight, the main overnight trading of Shanghai aluminum opened at 14245 yuan / ton, closed at 14295 yuan, up 55 yuan or 0.
39%, and the position increased by 1816 lots to around 244,000 lots, mainly
long positions.
Yesterday, Mexico announced an anti-dumping investigation on some aluminum foil products in China and temporarily imposed tariffs, which may affect today's Shanghai aluminum trend in terms of trading sentiment, and it is expected that today's Shanghai aluminum main force 1907 is running at 14200~14300 yuan, and the spot contract rose 0~30 yuan / ton
for the month.

Shanghai aluminum

The AOO aluminum ingot price in East China was 14,330 yuan / ton, down 40 yuan
.
Under the background of good consumption, destocking maintains a fast pace to support the high operation of aluminum prices, and the market expects that domestic economic stimulus measures will be introduced to promote investor sentiment to pick up, and spot aluminum prices are expected to remain stable
today.

The cost side speculation subsided, ending the nearly one-month rally, which was not good for aluminum prices; Today's Shanghai aluminum intraday lower, near the end of the decline slightly expanded, the main contract gradually fell to the low of the previous range, the end of the close at 14170, down 95 from the previous trading day, down 0.
67%; In the short term, Shanghai aluminum is expected to have little room for decline, and the support of the 14,000 mark below is still expected to be in place, wait and see; it is expected that tomorrow's spot aluminum will not fluctuate much, or fall slightly
.

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