echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on August 16

    Shanghai aluminum afternoon review on August 16

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight, the main force of Shanghai aluminum opened at 14205 yuan / ton, opened a large number of long positions, the plate pulled up to 14255 yuan / ton, and then short more understanding of the exit, the price shock to the low after the team short profit understanding, then the plate narrow range oscillation, the end of the session closed at 14240 yuan / ton, up 40 yuan / ton in the evening, up 0.
    28%, K line closed as a short white line, Positions increased by 3,436 hands to 331,000 lots, mainly long positions, daily K-line below the upper Bollinger band, the current Shanghai aluminum long position base is strong, aluminum prices or high sideways, it is expected that today's operating range is between 14150-14300 yuan / ton, spot liter discount between 30 yuan - 10 yuan / ton
    .

    Shanghai aluminum

    The AOO aluminum ingot price in East China was reported at 14230 yuan / ton, up 30 yuan
    .
    Fears of slowing global economic growth are shrouded, the impact of typhoons is gradually dissipating, rumors about the shutdown of production capacity have also disappeared, lack of favorable support for the upside is weak, and spot aluminum prices are expected to rise or fall little
    today.

    The complication of the Sino-US trade war and the increasing downward pressure on the economies of the two countries have led to strong market risk aversion, which has suppressed investors' positive sentiment; The aluminum market has limited replenishment in the off-season, supporting the destocking of medium-term inventory, but the price of alumina has plummeted, the profits of aluminum plants have been greatly repaired, and the upside of aluminum prices is limited; The impact of the short-term Weiqiao flood accident is unknown, or the medium-term inventory dematerialization is strengthened, and the short-term shock is expected to be strong
    .

    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.