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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum narrow range fluctuation short-term market bearish sentiment is strong

    Shanghai aluminum narrow range fluctuation short-term market bearish sentiment is strong

    • Last Update: 2022-12-07
    • Source: Internet
    • Author: User
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    Today, the main contract of Shanghai aluminum 1801 contract fluctuated in a narrow range around 15050 yuan / ton, trading at 15100-14945 yuan / ton intraday, up slightly by 0.
    27% per day, falling into low oscillation
    for the third consecutive day.
    At present, aluminum prices are running below the moving average group, indicating that the downside risk has not been lifted
    .
    At the same time, the positive price difference between Shanghai-aluminum 1712 and 1801 contracts narrowed to 70 yuan / ton, maintaining a positive arrangement
    of near, low, far high.

    Shanghai aluminum

    In terms of external trading, Asian Lun aluminum oscillation rebounded, of which 3 months Lun aluminum trading at 2120-2102 yuan / ton, now trading around 2118 US dollars / ton, up 0.
    38% per day, at present Lun aluminum is still running below the recent oscillation finishing platform, short-term decline risk remains
    .
    Watch for support below at $2068/mt in the evening
    .

    On the macro front, the Asian dollar index oscillated and rebounded, but the rebound was limited, and it is now trading around 93.
    2, still running below the moving average group, and the technical trend is weak
    .
    U.
    S
    .
    jobless claims for the week ended Nov.
    18 were 239,000, lower than the expected 240,000, marking the 142th consecutive week that U.
    S.
    jobless claims have fallen below the 300,000 mark.
    In terms of aluminum market information, customs data show that China's primary aluminum imports in October were 5,919 tons, down 43.
    1% year-on-year, and the cumulative imports of primary aluminum from January to October were 103403 tons, an increase of 15,997 tons or 18.
    3% year-on-year; At the same time, the export of primary aluminum was 2,775 tons, an increase of 9,939.
    81% year-on-year, and the cumulative export of primary aluminum from January to October was 13,941 tons, a year-on-year decrease of 2,694 tons
    .

    In terms of the market, on November 24, Shanghai aluminum trading concentrated 14750-14770 yuan / ton, the discount for the month was 130-120 yuan / ton, Wuxi transaction concentrated 14740-14760 yuan / ton, Hangzhou transaction concentrated 14750-14780 yuan / ton
    .
    Due to the factors of month-end bills and weekend stocking demand, the volume of downstream enterprises has increased, and the overall transaction has picked up
    slightly.

    During the day, Shanghai aluminum 1801 narrow fluctuation to 15045 yuan / ton, still running under the moving average group, the technical pattern is weak, short-term aluminum market bearish atmosphere is strong, but after continuing to fall, aluminum prices have fallen to around 15000 yuan, short-term need to pay attention to the integer mark support, if there are signs of stabilization, then short orders pay attention to reduce positions and leave the market
    .
    The Shanghai aluminum 1801 contract can be sold high and low in the range of 14900-15200 yuan, with a stop loss of 100 yuan / ton
    each.

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