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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum closed higher at the end of the day as oil prices soared

    Shanghai aluminum closed higher at the end of the day as oil prices soared

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 1701 contract opened at 13295 yuan, intraday high 13630 yuan low 13290 yuan, and closed at 13520 at the end, up 145 yuan / ton
    from the previous trading day.
    As the sharp rise in oil prices led to the strengthening of other commodities, Shanghai aluminum rose sharply today, but it is normal to have a rebound adjustment after the big fall, so don't be too optimistic for the time being, pay attention to the resistance around 13750 above, and hold cautiously if there is a low position
    .

    Shanghai aluminum

    Macro: Last night, under the expectation of OPEC reaching a production cut agreement, crude oil prices rose sharply, which also stimulated metal futures to stop falling and rebound, and the strong counterattack of black bulls also stimulated the restlessness
    of internal metals.
    However, the impact of the sharp rise in crude oil is still limited
    .
    After the overall market turned short, the current aluminum premium narrowed one after another, and the rebound of overnight aluminum did not drive the rise in spot aluminum prices this morning, and the shipment psychology of holders is still strong
    .
    In addition, the market may remain cautious on the eve of the US non-farm payrolls
    data.
    The technical level continues to maintain the bias of space, Lun aluminum continues to double dead cross today, the price returns to the BOLL mid-band, the $1700 integer mark support is effective
    .

    News: Recently, the National Development and Reform Commission, the Ministry of Industry and Information Technology and the Energy Administration jointly issued a document to improve the electricity consumption policy
    of the non-ferrous metal industry.
    This article is a positive action
    by the three ministries and commissions to implement Document No.
    42 of the State Council.
    It is good for enterprises that meet the specifications in the non-ferrous metal industry, which is conducive to building a fair competition environment in the industry, not only for the electrolytic aluminum industry, but also for zinc smelting and other industries
    .

    In terms of market: today's spot trading price of Yangtze River is 13950-13990 yuan / ton, down 80 yuan / ton; Guangdong South Reserve reported 14130-14230 yuan / ton, down 220 yuan / ton; Hua reported 14060-14080 yuan / ton, down 80 yuan / ton; The average domestic spot trading price is between
    13940-13980 yuan / ton.
    Today's spot aluminum continued to fall, holders are still actively shipping for cash, middlemen replenish a small amount, downstream willingness to buy goods has improved, and market transactions have picked up
    .

    From a technical point of view, continue to maintain the bias space, Lun aluminum continues to double dead cross today, the price returns to the BOLL mid-track, and the $1700 integer mark support is effective
    .
    Shanghai aluminum main MACD dead fork continued to open, KDJ high dead fork after a turn, today's price hit BOLL mid-rail 13700 yuan after pressure to fall, short-term breakthrough pressure is greater, the price will be consolidated
    around 13400-13600 yuan.

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