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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum fell below the average support and fell under pressure during the day

    Shanghai aluminum fell below the average support and fell under pressure during the day

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1708 fell under pressure, trading at 13865-13630 yuan / ton during the day, down 1.
    3% during the day, far worse than other base metals, and the daily closing price of Shanghai aluminum hit a low since January 19 this year
    .
    At present, Shanghai aluminum is under pressure again and breaks down, indicating that the upper selling pressure is heavier
    .
    At the same time, the positive price difference between Shanghai aluminum 1707 and 1708 contracts narrowed to 25 yuan / ton
    .

    Shanghai aluminum

    In terms of external trading, LME aluminum fell under pressure today, the decline has expanded, of which 3-month Lun aluminum traded at 1907-1889 US dollars / ton, now down 0.
    73% to 1891 US dollars / ton, the current Lun aluminum is close to the low point on May 12 this year, the technical support below focuses on 1860 US dollars / ton
    .

    On the macro front, the Asian dollar index rebounded and is now trading around 97.
    36, the third consecutive day of gains, partly affected by the British election
    .
    With the results of the UK parliamentary election so far, a "floating parliament" will be determined, the Conservative Party has only won 313 regional seats, and there is no possibility
    of winning a majority of 326 parliamentary majorities.
    In addition, China's May PPI was 5.
    5% year-on-year, worse than expected and the previous value
    .
    In the aluminum market, it is reported that some Japanese aluminum buyers agreed to set the aluminum premium in the third quarter at $119 per ton, down 7% from the previous quarter, becoming the first decline
    in three quarters.

    In terms of the market, on June 9, Shanghai aluminum trading concentrated 13630-13640 yuan / ton, the monthly discount was 50-40 yuan / ton, Wuxi transaction concentration was 13630-13640 yuan / ton, Hangzhou transaction concentration was 13640-13650 yuan / ton
    .
    This cycle, aluminum fluctuated at a low level, holders shipped steadily, downstream enterprises purchased on demand, and the weekend stocking was not strong, and the overall transaction maintained stability, and concentrated on low prices
    .
    The overall daytime trading this week was relatively flat and stable
    .

    During the day, the Shanghai aluminum 1708 contract fell under pressure to 13645 yuan / ton, falling below the support of the moving average, indicating that the short-term decline risk increased, and the performance was much weaker than that of copper and zinc, becoming a variety
    sought after by short funds.
    It is recommended that the Shanghai aluminum 1707 contract can be backed by 13850 yuan below the sky, the entry reference is around 13700 yuan, and the target is 13580 yuan / ton
    .

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