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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum has insufficient upper mobility and narrow fluctuation range

    Shanghai aluminum has insufficient upper mobility and narrow fluctuation range

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    On Thursday, Shanghai aluminum main 1812 contract opened at 14225 yuan / ton in the morning, the beginning of the short into the flat, aluminum prices quickly fell to the lowest of the day 14150 yuan / ton, due to the limited space below, aluminum prices followed the 5-day moving average back to 14240 yuan / ton, after two short creeping charges, Shanghai aluminum climbed to the intraday high of 14270 yuan / ton in the afternoon, the end of the day at 14255 yuan / ton a line of shock stabilized, closed at 14255 yuan / ton, up 25 yuan / ton, up 0.
    18%

    Shanghai aluminum

    In terms of the external market, Lun aluminum morning gap low opened at 2002 US dollars / ton, the opening part of the bulls by the overnight dollar index high pressure affected, lack of confidence to close the position, Lun aluminum quickly fell to the intraday low price of 1993 US dollars / ton, again updated the 6-month low, although the Asian trading session from the low rose somewhat, but the range is small, along the 5-day moving average to touch the high to 2004 US dollars / ton then began to slowly slide, to the end of the Asian market, again fell to a low
    of 1993 US dollars / ton 。 After entering the European trading session, the market trading activity increased, Lun aluminum began to climb from the low, the highest probe 2008.
    5 US dollars / ton, but the upward pressure is greater, Lun aluminum then briefly hovered back to the low of 1998.
    5 US dollars / ton, as of 17:40, Lun aluminum closed at 1999.
    5 US dollars / ton, down 4.
    5 US dollars / ton, down 0.
    22%, recorded seven consecutive negative.

    In the spot market, the range of aluminum in the month first fell and then rose
    .
    Shanghai transaction concentration 14130 ~ 14140 yuan / ton, for the month discount 60 ~ discount 40 yuan / ton, Wuxi transaction concentration 14130 ~ 14140 yuan / ton, Hangzhou transaction concentration 14160 ~ 14180 yuan / ton
    .
    Intraday cargo holders generally ship, middlemen actively receive goods when there are more discounts in the early stage, and downstream basic on-demand procurement, and there are no bright spots
    .
    In the afternoon, the transaction price of Shanghai Wuxi was between 14130~14150 yuan / ton, and only part of the transaction was made
    .

    The US dollar index remained high during the day, the performance of external base metals was weak, as far as London aluminum is concerned, there is no macro news to boost, and foreign alumina prices have not got rid of the previous haze to get improved, Lun aluminum has recently performed weakly, is expected to continue to test the 5-day moving average, pay attention to the US dollar index, the US September durable goods orders monthly preliminary value and September NAR quarterly adjusted existing home sales index and other macro data
    .

    Intraday announcement of social aluminum ingot inventory, a large decline from last week, coupled with the news of the previous production cut, Shanghai aluminum did not follow the fall of other metals, but overall, the trend of Shanghai aluminum is still weak, the fluctuation range is narrow, although the price has picked up but it is still difficult to find lasting upward momentum, it is expected to continue to test the 20-day moving average, pay attention to the external guidance and the release of official documents on production restrictions in the autumn and winter of some provinces and cities
    .

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