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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum came under pressure and fell significantly within the day

    Shanghai aluminum came under pressure and fell significantly within the day

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum 1607 contract came under heavy pressure, the decline expanded significantly, closing at 12480 yuan / ton at the end of the day, and the intraday limit was 12305 yuan / ton, down 2.
    42% from yesterday's closing price, mainly suppressed by the demand for technical pullback
    .
    In the external market, Asia Lun aluminum continued to fluctuate in a narrow range at a high level, and its performance was slightly resistant to falling to other base metals, of which Shanghai aluminum closed with a slight decline of 0.
    24% to 1642 US dollars / ton, and the daily closing price was still close to a new high
    since September 11 last year.

    Shanghai aluminum

    Macro: The Asian dollar index tumbled 0.
    7% to around 93.
    7 today as the Federal Reserve kept interest rates unchanged as scheduled, but the base metals have reacted muted to this at present, and watch for the reaction
    of external investors tonight.
    In addition, sentiment in the commodity market has declined
    due to the recent efforts to crack down on speculation by trading firms stabilizing the trend of black futures.

    In terms of market: on April 28, Shanghai spot aluminum trading concentrated 12530-12550 yuan / ton, discount 10 yuan / ton to flat water, holders are eager to exchange cash, shipment attitude is positive, later with the stabilization of aluminum in the future, the shippers' shipment strength has been controlled, spot prices basically fell back to the spot price level last Friday, middlemen low replenishment active, downstream willingness to receive goods positive, overall transaction active
    .

    Overall, today's Shanghai aluminum 1607 contract rushed back down to 12485 yuan / ton, showing that there is a certain selling pressure above, for four consecutive days, the performance is much weaker than other base metals and Lun aluminum, because the short-term aluminum price continues to rise after facing pullback demand, it is recommended that the Shanghai aluminum 1606 contract can be backed by 12700 yuan below the sky, the entry reference around 12600 yuan, the target focus on 12300 yuan
    .

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