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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum morning review on September 4

    Shanghai aluminum morning review on September 4

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    Last Friday night Shanghai aluminum main force opened at 16705 yuan / ton, the opening rushed up 16800 yuan / ton after a slight resistance high shock, stalemate Shanghai aluminum fell back to 16720 yuan / ton, with the external rebound, ferrous metal performance is strong, bulls actively increase positions, Shanghai aluminum main force pulled up, the high recorded 16920 yuan / ton, closed at 16875 yuan / ton
    .
    The trading volume decreased by 141,000 lots to 200794 lots, and the position increased by 30,882 lots to 471834 lots
    .
    On Wednesday, the steel mill caught fire, the ferrous metal performance was strong, the Beijing-Tianjin-Hebei environmental protection supervision opened, the main force of Shanghai aluminum still has upward momentum, and it is expected to run 16700~17000 yuan / ton in the day, and the spot discount is 260~220 yuan / ton
    .

    Shanghai aluminum

    In terms of the market, on the same day, the spot price of A00# aluminum was 16200 yuan / ton, down 40 yuan / ton from the previous week, and the discount of 380 yuan / ton compared with the near-month contract, due to the low season of consumption buying is still sluggish, and the financial pressure at the end of the month is obvious, the holder quotation is more difficult to ship, the one-week discount from 200 yuan / ton gradually expanded to 240 yuan / ton, the overall transaction is not good, fully showing the characteristics
    of the end of the month.

    In terms of news, environmental protection and other factors have triggered the tightening of bauxite supply, rising coal prices and pushing up the cost of electrolytic aluminum, while the heating season production limit is expected to continue to ferment, while the surge in black commodities has also contributed to the bullish sentiment in the market, while consumption has not improved, and inventory frequently record highs will be temporary
    .
    Price increase support remains strong
    .
    Operationally, it is recommended to maintain an appropriate amount of long positions, and the pullback can consider adding positions
    .

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