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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum is under pressure to the downside, and the short-term rebound pattern still exists

    Shanghai aluminum is under pressure to the downside, and the short-term rebound pattern still exists

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum 1608 contract came under heavy pressure, closing down to 12170 yuan / ton at the end of the day, down 1.
    34% from yesterday's closing price, but at present, Shanghai aluminum is still effectively breaking through to stabilize above M60, and the short-term rebound pattern remains
    .

    Shanghai aluminum

    In terms of the external market, today's Asian aluminum oscillation stabilized, the performance is relatively stagnatch, of which 3 months Lun aluminum rose 0.
    21% to 1634.
    5 US dollars / ton, the current Shanghai aluminum effectively run in the past two weeks of oscillation finishing platform above, but short-term aluminum prices continue to rise after facing the demand for technical pullback, the lower support focuses on 1600 US dollars / ton
    .

    Macro: Today's Brexit results announced, Brexiteers unexpectedly won, financial markets ushered in a sharp shock, the dollar index soared, the pound against the dollar once fell to a new low since 1984, European stock markets opened sharply, in this context, although base metals are under pressure to decline, but the overall decline is relatively limited, intraday also need to pay attention to the performance of
    base metals in Europe and the United States.
    In addition, the market is focused on the results of this Friday's referendum, which, according to the latest polls, is slightly better than Brexit
    .

    In terms of market: on June 24, Shanghai aluminum trading concentrated 12570-12600 yuan / ton, and the premium for the month was 60-80 yuan / ton
    .
    Shanghai holders glue, Wuxi holders actively shipped, the fall of aluminum triggered Hangzhou holders to increase the willingness to exchange cash, the supply of circulating goods increased, with the afternoon decline of aluminum futures, the bearish atmosphere of middlemen gradually strengthened, the willingness to replenish cooled, downstream orders cooled, stocking efforts weakened, the Brexit referendum counting is underway, the market is cautious, and the overall transaction is cooling
    .

    Today's Shanghai aluminum 1608 contract fell under pressure to 12170 yuan / ton, suppressed by the victory of Brexit, but due to the continuous decline in domestic aluminum inventory, or to bring some support to aluminum prices, short-term aluminum prices may have limited room for decline
    .
    It is recommended that the Shanghai aluminum 1608 contract is backed by 12,000 yuan above the dip, and the entry reference is around 12,100 yuan, and the target is 12,400 yuan / ton
    .

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