echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum short-term continuation of shock sorting out waiting for the market to become clearer

    Shanghai aluminum short-term continuation of shock sorting out waiting for the market to become clearer

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Tuesday morning, Shanghai aluminum opened at 13350 yuan / ton, the beginning of the day flat more in, Shanghai aluminum trading center of gravity slowly moved up, then the bulls concentrated on the entry to pull up aluminum prices straight up, touching 13525 yuan / ton, but triggered a large number of early entry bulls take profit and take profit, Shanghai aluminum fell sharply to 13370 yuan / ton before the rise, before the afternoon black series, base metal fell sharply, Lun aluminum dived, Shanghai aluminum followed by a rapid decline to the bottom of 13215 yuan / ton, afternoon long and short are more cautious, Under the interactive exit, the Shanghai aluminum shock upward repair part of the decline, closing at 13320 yuan / ton
    .
    Intraday black series in the downward pattern of increasing positions, metal is basically reducing positions downward trend, the upper 13500 yuan / ton integer mark once again shows strong selling pressure, combined with the fourth quarter of this year funds in Shanghai aluminum fast forward fast out backhand rapid characteristics, need to be wary of the risk
    of long and short in the fast rise and fall of Shanghai aluminum.

    Shanghai aluminum

    In terms of the external market, Lun aluminum opened at 1787.
    5 US dollars / ton in the morning, Lun aluminum around the daily moving average narrow range oscillation, followed by the domestic commodity volume diving low touched 1760 US dollars / ton before the afternoon, the low level of anti-pumping repair part of the decline, noon oscillated at 1770 US dollars / ton line, afternoon Lun aluminum shock upward, into the European trading session Lun aluminum continued to test, once touched 1790 US dollars / ton, long and short sides tangled at the 5-day moving average, as of 17:07 Lun aluminum 1787.
    5 US dollars / ton, Compared with other metals, Lun aluminum showed strong resistance to falls, and the recovery after bottoming out was large, and continued to pay attention to the effective support
    of the 5-day moving average.

    In terms of the market, aluminum rose to 13,445 yuan / ton before noon that month, an increase of 170 yuan / ton, but then fell to 13,170 yuan / kWh in Waterloo, a decline of 275 yuan / ton
    .
    Shanghai transaction concentration 13190-13230 yuan / ton, the discount for the month 170-100 yuan / ton, Wuxi transaction concentration 13180-13230 yuan / ton, Hangzhou transaction concentration 13160-13200 yuan / ton
    .
    Holders control shipments, aluminum prices soar in the early stage, middlemen are willing to receive goods, downstream years before stocking, positive willingness to receive goods, late aluminum direct diarrhea, early receiving middlemen turn to shipment positive, but the market has been roller coaster aluminum prices dizzy, wait-and-see mood gradually rising, transaction cautious
    .
    The overall intraday transaction changes with the change of aluminum
    .
    In the late afternoon, aluminum repaired part of the decline in the month, but due to the excessive decline before noon, the holders did not adjust in time before noon, and continued to lower the price in the afternoon, and the transaction price was concentrated at 13130-13140 yuan / ton, and the market was still mainly wait-and-see, and there were few
    transactions.

    In terms of industry, Marubeni Corporation said that aluminum inventories in Japan's three major ports were 275,500 tons at the end of December, an increase of 35,600 tons or 14.
    8% from November; At the end of 2016, the Northwest Aluminum Processing Plant exceeded the annual profit target by 50%, and the annual extrusion production and sales increased by 33%.

    On the plate, Shanghai aluminum once again tested the pressure level of 13,500 and then fell back, and the short-term continuation of the shock sorting, temporarily waiting for the market to further clear.

    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.