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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum bottoming out and picking up The lower support is strong

    Shanghai aluminum bottoming out and picking up The lower support is strong

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum 1609 contract bottomed out again, showing that there is strong technical support below, closing at 12480 yuan / ton
    at the end of the day.
    At present, Shanghai aluminum fell back to the intersection of the moving average, the short-term trend oscillated, facing the direction of decision, the lower support is concerned about 12300 yuan / ton
    .

    Shanghai aluminum

    In terms of external trading, today's Asian aluminum oscillation rebound, of which 3-month Lun aluminum rose 0.
    27% to 1659.
    5 US dollars / ton, still close to the recent high (1672 US dollars / ton), but at present, Lun aluminum has risen for five consecutive weeks, short-term need to be wary of technical pullback, the lower support to focus on 1600 US dollars / ton
    .

    Macro: The overnight dollar index fluctuated in a narrow range around 96.
    1, basically maintaining its overnight gains, and is now trading around
    96.
    1.
    Overnight, in order to resist the risk of Brexit, the Bank of England lowered the UK's countercyclical capital buffer ratio from 0.
    5% to zero, and the pound hit a record low against the US dollar
    .
    In addition, this week, the market is focused on the June non-farm payrolls data due on Friday, which is expected to be better than May
    .

    Market: On July 6, Shanghai aluminum trading concentrated 12910-12920 yuan / ton, and the premium for the month was 50-60 yuan / ton
    .
    The price difference between Guangdong and Shanghai exceeds 100 yuan, a small amount of aluminum ingots in Shanghai is distributed to Guangdong downstream enterprises, the circulation supply in Shanghai is tightening, the holders sell at a high price, Wuxi area is affected by heavy rain, the production of some downstream enterprises is affected, the downstream stocking short-term weakening, the overall transaction is concentrated among traders, and traders are becoming more and more resolute
    .

    Today's Shanghai aluminum 1609 contract narrowly sorted out to 12480 yuan / ton, falling back to the moving average interweaving operation
    .
    After the short-term market gradually digested the stimulation of the bullish factors in the aluminum market, it turned to worry that the strengthening aluminum price would affect the supply-side reform process
    of the domestic aluminum market.
    It is recommended that the Shanghai aluminum 1609 contract can be backed by 12,600 yuan below the sky, and the entry is concerned around 12,500 yuan, with a target of 12,300 yuan
    .

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