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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum shock closed up driven by the rise of ferrous metals

    Shanghai aluminum shock closed up driven by the rise of ferrous metals

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1703 oscillated around 13400 yuan, intraday trading range of 13545-13210 yuan / ton, the end of the day closed at 13395 yuan / ton, up 0.
    87% on the day, the upper rebound resistance focus on 13600 yuan / ton
    .
    At the same time, the positive price difference between Shanghai-aluminum 1702 and 1703 contracts widened to 80 yuan / ton, indicating that the forward contract has increased
    its willingness to rise.

    Shanghai aluminum

    Externally: Asian market Lun aluminum oscillation stabilized, of which 3 months Lun aluminum flat at 1789 US dollars / ton, the current Lun aluminum running above the moving average group, showing its intrinsic willingness to rise, short-term operation upward gradually clear, this week Lun aluminum accumulated 4.
    13%, its upper rebound resistance focus on 1800 US dollars / ton
    .

    Macro: Today's Asian dollar index continued to fall under pressure to around 101.
    3, so far this week the dollar index has fallen 0.
    85%, the third consecutive week
    of decline.
    In addition, China's imports (in RMB) increased by 0.
    6% in 2016, but exports fell by 2%, with a trade surplus of 3.
    35 trillion yuan
    .
    Aluminum industry information, in December 2016, China's unforged aluminum and aluminum products (including primary aluminum, aluminum alloys and semi-finished aluminum products) export volume of 390,000 tons, higher than 380,000 tons in November, a year-on-year decrease of 35,642 tons or 8.
    37%.

    In 2016, China's cumulative exports of unwrought aluminum and aluminum products were 4.
    59 million tons, a year-on-year decrease of 170,000 tons or 3.
    57%.

    In terms of market: on January 13, Shanghai trading concentrated 13250-13280 yuan / ton, the discount for the month was 70-40 yuan / ton, Wuxi transaction concentration was 13220-13280 yuan / ton, Hangzhou transaction concentration was 13210-13250 yuan / ton
    .
    The rapid fluctuation of aluminum at 11 o'clock, the views of holders are inconsistent, and the spot quotation is more chaotic
    .
    Aluminum rose sharply, smelters intend to sell, shipments weakened, the source of circulation was tighter than yesterday, middlemen were bullish and willing to receive goods, downstream enterprises received goods according to just demand, and the overall transaction was better
    than yesterday.

    Shanghai aluminum 1703 contract closed up strongly during the day, this week Shanghai aluminum main contract has risen more than 7%, mainly driven by technical rebound demand and ferrous metal rise, due to the rise in raw materials such as coking coal and coke to increase the cost of primary aluminum smelting, Shanghai aluminum 1703 contract to maintain more ideas, it is recommended to back 13100 yuan above the dip, entry reference 13250 yuan, target 13600 yuan
    .

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