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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum intraday rush back down shows that the upper selling pressure is heavier

    Shanghai aluminum intraday rush back down shows that the upper selling pressure is heavier

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1702 rushed back down, trading at 12950-12635 yuan / ton during the day, and closed down to 12650 yuan / ton at the end of the day, down 1.
    09% on the day, indicating that the upper selling pressure is heavier
    .
    At the same time, the term structure of the aluminum market has changed to a positive arrangement of near, low, far high, and the positive price difference between 1701 and 1702 contracts is 25 yuan / ton, indicating that the spot tension has slowed
    down significantly.

    Shanghai aluminum

    Externally: Asian Lun aluminum rushed back down, giving up the intraday gains, of which 3-month Lun aluminum rose slightly by 0.
    44% to 1722 US dollars / ton, still running at the interweaving of moving averages, its upper rebound resistance focus on 1760 US dollars / ton, short-term technical form performance is stronger than Shanghai aluminum, Lun aluminum operating range focus on 1700-1760 US dollars / ton
    .

    Macro: The Asian dollar index oscillated to around 102.
    95, still running at a high level, while U.
    S.
    crude oil futures stabilized around $53.
    9/barrel, maintaining the gains recorded at the beginning of the week
    .
    According to the National Bureau of Statistics, from January to November, the total profit of industrial enterprises above designated size in the country increased by 9.
    4%, and the growth rate was 0.
    8%
    faster than that from January to October.
    In November, the profits of industrial enterprises above designated size increased by 14.
    5% year-on-year, and the growth rate was 4.
    7%
    faster than that in October.
    Aluminum industry information, as of December 24, Xinjiang Shenhuo Aluminum Company completed the output of primary aluminum 813129 tons, aluminum ingot output of 810015.
    99 tons, completed the annual output target
    .

    In terms of market: on December 28, Shanghai aluminum trading concentrated 12950-12980 yuan / ton, and the premium for the month was 180-210 yuan / ton
    .
    The long orders delivered in the market flow into the market, coupled with the active shipment of holders at high prices, the increase in circulating supplies, the decline of aluminum in the month, and the spot price approaching the 10,000 mark, the willingness of middlemen to accept goods is cautious, downstream enterprises do not recognize spot prices, and the demand for supplementary tickets is mainly received, and the overall transaction price is suppressed
    .

    Intraday Shanghai aluminum 1702 contract rushed back down to 12650 yuan / ton, weaker than other base metals, technically, the following continue to pay attention to the support
    of 12500 yuan.
    Prior to this, it is recommended that the range oscillation operation is the mainstay, and the Shanghai aluminum 1702 contract can be sold high and low between 12500-12800 yuan / ton, and the stop loss is 100 yuan / ton
    each.

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