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Shanghai aluminum afternoon review on October 18

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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Overnight, the Shanghai aluminum main 1912 contract opened at 13825 yuan / ton, the upper pressure level of 13840 yuan / ton line is more obvious, aluminum prices are difficult to break upward, and then the high soft fall to 13810 yuan / ton The line hovered slightly, and then there was no obvious upward trend in the evening, mainly range-bound, some bulls reduced positions at the end of the session, and the aluminum price was 13815 yuan / ton, The position increased by 1558 lots to 239,000 lots, the trading volume decreased by 69548 lots to 26712 lots, closed at the small black line, the center of gravity jumped below the 5-day moving average, still located in the lower band of the Bollinger Band, up 15 yuan / ton, or 0.
11%, because the upper 10/40 day resistance is large, it is expected that today's operating range is between 13750-13900 yuan / ton, and the spot premium is between
30-70 yuan / ton.

Shanghai aluminum

The price of AOO aluminum ingots in East China was reported at 13990 yuan / ton, up 90 yuan
.
China and the United States have stepped up trade talks, are working to finalize the text of the phase one trade deal, and made new progress on the issue of tariff elimination, the market maintains optimistic expectations, and expects spot aluminum prices to rise
today.

Recently, the main contract of Shanghai aluminum rebounded to around 13,900 yuan / ton, and the smelting profit rose slightly to 450 yuan / ton
.
However, in general, there is a lack of driving factors, and it is difficult to have a trend market
.
In the past month, it is expected to consolidate around 13800 yuan / ton, and after December, because it is expected that alumina may still have downward pressure, which makes the later aluminum price still have room to fall by 150 yuan / ton
.

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