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Shanghai aluminum afternoon comment on May 9

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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The main 1906 contract of Shanghai aluminum opened at 13990 yuan / ton overnight, which was 55 yuan / ton lower than the closing price of the day, and the opening was dominated by long position reduction, and then the price fluctuated in a narrow range, and finally closed at 13970 yuan / ton
.
The macro external environment has the risk of further deterioration, trading sentiment is more pessimistic, today's Shanghai aluminum main force or shock weakening between 13900 ~ 14000 yuan / ton running, but due to the fundamental support of the downside space is limited, spot premium between 20 ~ 40 yuan / ton
.

Shanghai aluminum

The price of AOO aluminum ingots in East China was 14,070 yuan / ton, up 10 yuan
.
China's exports of unwrought aluminum and aluminum products in April were 498,000 tons, down 8.
8% month-on-month and up 15.
8% year-on-year; The Sino-US trade war has reappeared in-for-tat, the market risk aversion has heated up, and spot aluminum prices are expected to fall
today.

The market waited for Sino-US trade negotiations, trading cautiously, Shanghai aluminum volatility fell slightly, compared with surrounding metals, the decline was limited, as of the afternoon close, the 1906 contract closed down 0.
11% to 14005, down 15 from the previous trading day; From the trend point of view, the results of Sino-US trade rubbing are expected to have little impact, the market has digested in advance, and due to the improvement of fundamentals, the aluminum price shock is strong and the trend remains unchanged, temporarily pay attention to the repeated fluctuations around 14,000, wait and see; it is expected that tomorrow's spot aluminum will not fluctuate much
.

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