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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum maintains a narrow range of fluctuations in the short term or will continue to adjust

    Shanghai aluminum maintains a narrow range of fluctuations in the short term or will continue to adjust

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main 1711 contract after the opening of the price maintained a narrow range, although the price rose 16440 yuan in the afternoon, but since then the price has fallen sharply, falling to a minimum of 16150 yuan, and finally closed at 16150 yuan, down 295 yuan, down 1.
    79%.

    Index holdings decreased by 22,844 lots to 977,000 lots, and the trading volume expanded to 788,000 lots
    .

    Shanghai aluminum

    In terms of external trading, the LME aluminum March contract opened higher at $2,116 today, and then the price fell back to a narrow range around $2,100 under pressure, and the price fell again to a minimum of $2,088 in the afternoon, closing at $2,089.
    5, down $25.
    5, or 1.
    21%.

    In terms of the market, the mainstream trading hours of the spot market picked up, the morning holders were willing to sell at a high price, the discount narrowed to 100 yuan, traders received goods actively, the transaction improved, downstream enterprises were cautious, and basically wait-and-see
    .

    In terms of news, today's non-ferrous metals in the afternoon collective correction, aluminum market, the recent domestic electrolytic aluminum social inventory seven places of inventory totaled 1.
    611 million tons, an increase of 27,000 tons from last Thursday, short-term fundamentals are bearish, aluminum market above the pressure is heavier, performance is worse than other base metals, aluminum prices or will continue to adjust
    .

    On the technical side, the main KDJ dead fork of Shanghai aluminum diverged but entered the oversold range, MACD dead cross, the price fell below the middle rail of the BOLL line in the short term, and continued to fluctuate in a wide range at a high level, supported at 16,000 yuan below, and tomorrow's spot quotation may fall below around 16,000 yuan / ton
    .

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