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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum high and wide volatility hit a new high in several months

    Shanghai aluminum high and wide volatility hit a new high in several months

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    Market review: This Monday, the Shanghai aluminum 1606 contract fell into a high oscillation wide oscillation, once touched the limit board of 13075 yuan / ton, and closed at 12885 yuan / ton at the end of the day, up 0.
    62% from the previous day's closing price, the daily closing price hit a new high since July last year, and the performance was stronger than other non-ferrous metals
    .
    In the external market, the Asian aluminum oscillation fell slightly, facing the risk of technical correction in the short term, of which Shanghai aluminum closed with Lun aluminum falling 0.
    73% to 1640 US dollars / ton, and the daily closing price is still close to the new high
    since September 11 last year.

    Shanghai aluminum

    Macro: The Asian dollar index oscillated and declined, the first decline in four trading days, which was regarded as a normal technical correction
    .
    In addition, the market is focused on the Fed's interest rate decision this week, expecting a low probability of rate hike, but the market is focused on whether the Fed will signal a rate hike in June
    .

    In terms of market: on April 25, Shanghai aluminum trading concentrated 12750-12780 yuan / ton, discount 30 yuan / ton to discount 10 yuan / ton, holders actively shipped, the future aluminum fluctuated greatly before noon of the month, holders took a discount of about 20 yuan / ton shipment, Shanghai and Wuxi spot prices performed passively, Hangzhou holders were willing to ship positively, quotations were relatively stable, middlemen and downstream wait-and-see sentiment breeded, the willingness to receive goods became cold, and the overall transaction showed Monday characteristics
    .

    Industry: It is reported that as the price of aluminum rises above 12,000 yuan / ton, a new round of negotiations between the Qinghai provincial government, the power grid and the aluminum plant has been launched, and the preferential electricity price of the aluminum plant may be canceled
    .
    Because according to the previous negotiation, when the aluminum price is lower than 11,000 yuan / ton, the aluminum plant gets a preferential electricity price of 1 cent, and when the aluminum price is between 11,000-11,500 yuan / ton, the aluminum plant gets a preferential
    electricity price of 7 cents.

    Overall, the Shanghai aluminum 1606 contract oscillation rose slightly to 12885 yuan / ton on Monday, which is still stronger than other non-ferrous metals, because the supply-side reform of aluminum in non-ferrous metals is the deepest, causing financial attention
    .
    Facing the demand for a pullback after the short-term aluminum price continues to rise, it is recommended that the Shanghai aluminum 1606 contract can intervene in long orders around 12700 yuan, and the stop loss refers to around
    12500 yuan.

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