echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum afternoon review on February 27

    Shanghai aluminum afternoon review on February 27

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Yesterday, the main 2004 contract of Shanghai aluminum opened at 13525 yuan / ton, maintained above 13500 yuan / ton in early trading, the high was only 13535 yuan / ton, and began to reduce positions downward in the afternoon, but did not fall below the previous day's low, closing at 13490 yuan / ton, down 0.
    33%, the trading volume was reduced to 34,000 lots, the position was reduced to 126,000 hands, night trading continued to be suspended, and the recovery time was to be determined
    .
    The confidence of the bulls is slightly insufficient, the main force of Shanghai aluminum reduced its position for the second consecutive day, and the following focus on cost support, it is expected that the main force of Shanghai aluminum will run in the range
    of 13400-13700 yuan / ton today.

    Shanghai aluminum

    Oil prices fell to a more than one-year low dragged down the commodity market, overnight aluminum shock after the end of the day flat, China's automobile production and sales fell sharply, terminal demand has not picked up for the time being, it is expected that today's aluminum rise and fall is limited
    .

    According to data from the China Association of Automobile Manufacturers, China's automobile production and sales fell sharply in January, and it is expected that the decline in February will be more obvious than in January, and the current terminal demand has not picked up for the time being, although the domestic active resumption of work brings some support, aluminum prices will still be slightly under pressure, and it is expected that today's spot aluminum prices will rise and fall limited
    .

    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.