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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum bottomed out and rebounded, and the performance was slightly stronger than that of the outer market

    Shanghai aluminum bottomed out and rebounded, and the performance was slightly stronger than that of the outer market

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1702 bottomed out, the performance is slightly stronger than Lun aluminum, intraday trading at 12665-12475 yuan / ton, the end of the close rose to 12645 yuan / ton, up 0.
    44% per day, the technical support below focus on 12500 yuan / ton
    .
    At the same time, the term structure of the aluminum market turned to a negative arrangement of near high and far low, and the negative price difference between 1701 and 1702 contracts was 25 yuan / ton, indicating that the spot tension slowed
    down significantly.

    Shanghai aluminum

    In terms of external trading: Asian Lun aluminum around 1685 US dollars / ton around a narrow range, of which 3 months Lun aluminum flat to 1686 US dollars / ton, is still running below the moving average group, its upper rebound resistance focus on 1750 US dollars / ton, short-term technical form performance is weaker than Shanghai aluminum, Lun aluminum operating range focus on 1650-1750 US dollars / ton
    .

    Macro: The Asian dollar index edged down to around 103.
    18, close to the year's high of 103.
    92
    .
    In addition, the US ISM manufacturing PMI index in December was 54.
    7, the fastest increase in two years, higher than the expected 53.
    6 and the previous reading of 53.
    2, indicating a stabilization of output and the fastest increase in orders since August 2009
    .
    In the sub-indicators, export orders hit the fastest since May 2014; The new orders index was 60.
    2, the highest
    since November 2014.
    According to the "2017 Tariff Adjustment Plan" approved by the State Council, the provisional tax rate of China's aluminum exports in 2017 has not changed
    compared with 2016.

    Market: On January 4, Shanghai aluminum trading concentrated 12650-12660 yuan / ton, the monthly premium was 30-40 yuan / ton, Wuxi transaction concentration was 12630-12650 yuan / ton, Hangzhou transaction concentration was 12680-12690 yuan / ton
    。 Shanghai inventory was flat this week, Shanghai holders shipped steadily, the circulation supply was sufficient, and the overall transaction was acceptable; During the New Year's Day, Wuxi arrived more, the largest increase in inventory, the shipment attitude of the holders was positive, the aluminum pressure test was 12500 yuan / ton, the middlemen and downstream enterprises were in a wait-and-see mood, Wuxi transaction was cold, Hangzhou holders due to the small increase in inventory shipment attitude was stable, Hangzhou area transaction is general
    .
    Overall transactions showed regional differences
    .

    During the day, the Shanghai aluminum 1702 contract bottomed out and rebounded to 12645 yuan / ton, because short-term Shanghai aluminum still lacked key upward momentum
    .
    However, at present, the aluminum price has fallen to the key technical support level, before it falls below, the operation needs to be cautious, Shanghai aluminum 1702 contract can be sold high and low between 12550-12750 yuan / ton, stop loss 100 yuan / ton
    each.

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