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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum intraday shock climbed The subsequent upward momentum remains to be seen

    Shanghai aluminum intraday shock climbed The subsequent upward momentum remains to be seen

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum 1606 contract rushed back down, closing at 11945 yuan / ton at the end of the day, up 1.
    36% from yesterday's closing price, stabilizing above the moving average group, ferrous metals and chemicals fell back during the day, indicating that short-term hot spots have shifted, and base metals are gradually favored by funds
    .

    Shanghai aluminum

    In terms of external trading, Asian aluminum oscillation continued to rise, the operating range was 1530-1554 US dollars / ton, of which Shanghai aluminum closed Lun aluminum rose 0.
    88% to 1549 US dollars / ton, effectively breaking through the upper average suppression, indicating that its willingness to rise is strong, its performance is slightly stronger than other non-ferrous metals, driven by the strong rise of US crude oil futures
    .

    On the macro front, the Asian dollar index oscillated stronger, now trading around 94.
    2, close to the low set on August 24 last year, while U.
    S.
    crude oil futures are expected to reach a frozen production agreement, further rising to around $41.
    6 / barrel, driving commodity market sentiment to climb
    .
    In addition
    .
    China's March import and export data was much stronger than expected, showing a marked improvement in domestic and foreign demand, with exports in March rising 18.
    7% year-on-year, the first increase in nine months; March imports were -1.
    7% year-on-year, both stronger than expected and prior
    .

    In terms of the market, on April 13, Shanghai aluminum trading concentrated 11900-11970 yuan / ton, with flat water
    .
    Holders are actively shipping at high prices, spot prices have increased sharply compared with yesterday, middlemen and rising sentiment are suppressed, downstream wait-and-see sentiment breeds, with the fall of aluminum in the month, the market wait-and-see atmosphere is gradually stronger, and the overall transaction is afraid of high and suppressed
    .

    Today's Shanghai aluminum 1606 contract oscillation strengthened to 11945 yuan / ton, indicating that there is a short-term willingness
    to rebound after the pressure of last week's technical pullback was gradually released.
    At the same time, due to the short-term strong rebound of ferrous metals and chemical varieties, to a certain extent to improve the sentiment of the commodity market, it is necessary to pay attention to the change in investor sentiment in the later stage, it is recommended that the Shanghai aluminum 1606 contract can be backed by 11850 yuan / ton to hold long orders, the target reference is 12100 yuan / ton
    .

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