 Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum is still weak and the momentum is not strong

Shanghai aluminum is still weak and the momentum is not strong

 Last Update: 2022-12-13
 Source: Internet
 Author: User

Tags

main metal

high pressure water

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

On Friday, the Shanghai aluminum main 1901 contract opened at 13890 yuan / ton in the morning, slowly floating up at the beginning of the session to explore the high of 13940 yuan / ton, because the upper pressure still exists Shanghai aluminum upward weakness began to slide, fell below the daily moving average, recorded a low of 13855 yuan / ton, in the afternoon, non-ferrous metal plate turned red across the board, the market trading atmosphere gradually rose, Shanghai aluminum was driven, began to rise low, broke through the daily moving average resistance and stepped on two stairs to touch the highest price of the day of 14010 yuan / ton, returning to above the 10,000 mark However, because it is still passively pushed to a high level, there is no strong support below, and the end of the daily session slightly softened, starting at 13970 yuan / ton A narrow range of shock stabilized, closing at 13970 yuan / ton, up 60 yuan / ton, up 0.
43%.

Shanghai aluminum

In terms of the market, Shanghai spot aluminum ingots were quoted at 13790-13830 yuan / ton, the average price was 13810 yuan / ton, down 190 yuan / ton, and the discount for the 1811 contract was 60 yuan / ton - 20 yuan / ton
.
Lun aluminum has fallen endlessly in recent days, hitting a new 15-month low
.
Domestically, although the price of alumina on the cost side rose this week, the price of Shanghai aluminum futures still went all the way down
.
Traders' discount quotations on Thursday were basically unchanged from the previous day, and the market is not very clear at present, with middlemen cautiously receiving goods and average trading performance
.

Trump said that he sought a trade deal with China at the G20 summit and had begun to draft terms, affected by this, the non-ferrous metal Jedi rebounded in the afternoon, but Shanghai aluminum still performed weakly, and the momentum was not strong, as of Friday's close, the main 1812 contract closed up 0.
32% to 13960, up 45 from the previous trading day; From the perspective of the plate, short-term aluminum prices are expected to fluctuate and stabilize, and driven by surrounding metals, it is expected to rebound slightly, but the rebound is still relatively limited, focusing on the shock around 14,000; spot aluminum is expected to rise
next Monday.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.