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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on April 24

    Shanghai aluminum afternoon review on April 24

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    On Thursday, the Shanghai aluminum main 2006 contract opened higher at 12265 yuan / ton
    in the morning.
    At the beginning of the session, the bulls continued to increase their positions, the market rushed to 12370 yuan / ton, and then the short into the long flat, the main price fell from the high, giving up the initial gains, closing at 12245 yuan / ton, up 50 yuan / ton from the previous day's close, an increase of 0.
    41%.

    Shanghai aluminum

    In terms of the market, the price of Chinalco East China AOO aluminum ingots was 12,500 yuan / ton, up 220 yuan
    .
    Domestic aluminum ingot social inventory dematerialization speed accelerated, downstream starts will return to normal levels, and smelter profits repair, the probability of subsequent significant reduction in production stoppage declined, aluminum export orders will be affected by the epidemic, spot aluminum prices today or slightly down
    .

    From a fundamental point of view, spot is still strong, the domestic electrolytic aluminum social inventory weekly fell by 136,000 tons, the decline is a historical high, the consumer side can still form a strong support for aluminum prices, but the upper pressure position of 12,500 yuan / ton is also difficult to break through
    .
    It is expected that today's aluminum price range will run at 12050-12450 yuan / ton, and the spot pair will rise around
    40-60 yuan / ton in the month.
    It is necessary to continue to pay attention to the changes in the spread between front-month contracts and the changes
    in the sentiment of long and short positions.

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