echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum rushed back down to show that the upper rebound was blocked

    Shanghai aluminum rushed back down to show that the upper rebound was blocked

    • Last Update: 2022-12-10
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Friday, the main contract of Shanghai aluminum 1806 rushed back down, showing that the upper rebound was blocked, the operating range was 14660-14480 yuan / ton, and the end of the day closed at 14575 yuan / ton, up 0.
    07% from the previous trading day's closing price, weaker than copper and stronger than zinc
    .
    In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between the Shanghai aluminum 1806 contract and the 1807 contract was flat to 75 yuan / ton
    .

    Shanghai aluminum

    In terms of external trading, Asian Lun aluminum around 2295 US dollars / ton around narrow fluctuations, as of 15:55 Beijing time, 3-month LME aluminum reported 2299 US dollars / ton, up 0.
    66% per day, at present Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range focus on 2250-2380 US dollars / ton
    .

    In terms of the market, on May 4, Shanghai aluminum Shanghai trading concentrated 14450-14470 yuan / ton, the discount for the month was 60-50 yuan / ton, Wuxi transaction concentration was 14450-14470 yuan / ton, Hangzhou transaction concentration was 14470-14490 yuan / ton
    .
    The market circulation supply is relatively sufficient, but the overall price is still relatively firm, the middleman maintains the willingness to receive goods on the previous day, the downstream enterprises have increased the amount of stock procurement on weekends, and the overall transaction is better
    .

    On the macro front, the Asian U.
    S.
    dollar index fluctuated in a narrow range around 92.
    5, the market waited for the results of Sino-US trade negotiations and non-farm payrolls data, and there was no latest news in the Sino-US trade negotiations, and negotiations continued
    .
    In addition, China's Caixin services PMI in April was 52.
    9, up 0.
    6% month-on-month, and the recovery of the service industry is more obvious
    than that of the manufacturing industry.

    In terms of industry, U.
    S.
    unprocessed, unalloyed aluminum exports were 7,807 tons in March, up from 7,329 tons in February, and imports were 230,390 tons, up from 181937 tons
    in February, according to the U.
    S.
    Department of Commerce.

    During the day, Shanghai aluminum 1806 oscillated to 14575 yuan / ton, its performance was stronger than Lun aluminum, because the short-term US dollar maintained a relatively strong pressure on Lun aluminum
    stronger.
    Operationally, it is recommended that the Shanghai aluminum 1806 contract can be backed above 14400 yuan to bargain price, enter the market reference around 14500 yuan, and target attention to 14650 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.