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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum rose significantly and was wary of bulls' profit market suppression

    Shanghai aluminum rose significantly and was wary of bulls' profit market suppression

    • Last Update: 2022-12-01
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum 1606 contract rose vigorously, the increase expanded significantly, closing at 12400 yuan / ton at the end of the day, up 2.
    69% from yesterday's closing price, the increase is close to the high point since November 26 last year, as of today's week Shanghai aluminum has risen 3.
    68%, for two consecutive weeks
    .

    Shanghai aluminum

    In terms of external trading, Ashilun aluminum fell into a high narrow range of fluctuations, but basically maintained the large increase recorded overnight (2.
    46%), of which Shanghai aluminum closed slightly up 0.
    15% to 1627 US dollars / ton, the daily closing price hit a new high since September 17 last year, the increase ranked first
    among base metals.

    Macro: The Asian dollar index failed to extend its overnight rally, now trading around 94.
    4, while U.
    S.
    crude oil futures fell slightly under pressure, but the internal commodity market long atmosphere is still strong, especially ferrous metals, chemicals and even agricultural commodities are generally up and down, optimism is transmitted to the non-ferrous metals market, and its rising initiative has risen
    significantly.
    Watch for the ECB interest rate meeting tonight, which is expected to keep interest rates unchanged
    .

    In terms of market: on April 21, Shanghai spot aluminum trading concentrated 12240-12260 yuan / ton, spot discount 20-10 yuan / ton
    .
    At the beginning of the transaction, the holders sold actively at the high, with the rise of aluminum and good transactions, the holders began to raise the price and sell, the middleman was bullish on the price of aluminum in the period, replenishing the weekend and the May Day holiday in advance, the willingness to replenish at a low level was positive, and the downstream was afraid of high on-demand procurement, and the overall transaction was concentrated in the low transaction
    between traders.

    Today's Shanghai aluminum 606 contract oscillation closed up to 12400 yuan / ton, as ferrous metals soared again to trigger market long sentiment, and aluminum in the non-ferrous metals supply-side reform is the deepest, causing financial attention
    .
    However, tomorrow is Friday, and we need to be wary of the demand for high profits triggered by the continuous rise in aluminum prices
    .

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