echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum recently sideways The market is slightly cautious

    Shanghai aluminum recently sideways The market is slightly cautious

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the main force of Shanghai aluminum opened at 11950 yuan / ton, the bears were active at the beginning of the session, the aluminum price tested down 11925 yuan / ton after recovering to touch 11980 yuan / ton, the afternoon bulls closed at a high level, aluminum prices fell again, the end of the day long and short soldiers, aluminum prices closed at 11960 yuan / ton
    .
    Overall, the market is slightly cautious, and Shanghai aluminum is expected to move sideways recently, and it needs to be repeatedly tested
    at the integer mark of 12,000 yuan / ton.

    Shanghai aluminum

    During the day, Lun aluminum opened at 1554.
    5 US dollars / ton, Asian market, Lun aluminum rose slightly to touch 1560 US dollars / ton, no surrounding guidance, Lun aluminum under pressure around the daily moving average narrow range oscillation, Asian market end Lun aluminum fell back to test the low of 1552 US dollars / ton, into the European market, Lun aluminum rebound under pressure downward, as of 16:49, Lun aluminum recorded 1550 US dollars / ton, Lun aluminum around 1550 US dollars / ton wide range, night focus on the United States March industrial output monthly rate and April consumer confidence index guidance on Lun aluminum

    In terms of spot, aluminum futures fell before noon of the month, and as of 11:23, it recorded 11910 yuan / ton
    .
    Shanghai transaction concentration 11900-11910 yuan / ton, for the month of flat water, Wuxi transaction concentration 11910-11920 yuan / ton, Hangzhou transaction concentration 11910-11920 yuan / ton
    .
    This week, Shanghai aluminum ingot inventory increased slightly, holders have a strong willingness to exchange cash, active shipments, the late transaction took the initiative to slightly reduce the price, Wuxi inventory this week significantly reduced, coupled with better transactions, Wuxi holders raised prices to sell, Hangzhou holders stable shipments, in terms of transactions, Wuxi transactions remained active, Shanghai transactions were slightly colder than yesterday, and transactions were differentiated
    .

    Overall, the intraday Shanghai aluminum 1606 contract oscillation stabilized at 11960 yuan / ton, and the short-term rebound pattern remained good
    .
    The early gains of non-ferrous metals this week are much weaker than those of ferrous metals, so after the positive data is cashed, it is necessary to pay attention to the turn
    of investment funds.
    It is recommended that the Shanghai aluminum 1606 contract can hold long orders above 11880 yuan / ton, and the target is 12100 yuan / ton
    .

    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.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.