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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum stop falling rebound The rebound is limited

    Shanghai aluminum stop falling rebound The rebound is limited

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1706 stop the decline and rebound, but the rebound is limited, intraday trading at 14015-13815 yuan / ton, the end of the close at 13950 yuan / ton, up 0.
    47%, the current aluminum price running under the main moving average group, short-term decline risk remains
    .
    At the same time, the positive price difference between Shanghai-aluminum 1706 and 1707 contracts remained stable at 65 yuan / ton
    .

    Shanghai aluminum

    External market trend: LME aluminum around 1916 US dollars / ton around the weak finishing, trading is very light, of which 3 months Lun aluminum flat to 1916 US dollars / ton, currently barely running on M60, that is, 1910 US dollars / ton, the technical support below focus on 1890 US dollars / ton
    .

    Macro: The Asian dollar index is trading around 98.
    8, near the low set on November 9, 2016
    .
    The U.
    S.
    House of Representatives voted narrowly to pass a bill to repeal and replace Obamacare, avoiding a shutdown
    .
    Tonight, focus on the US non-farm payrolls data for April, thereby guiding
    whether the Fed will raise interest rates in June.
    In addition, the second round of voting in the French presidential election this Sunday, with a high
    probability of Mark winning.
    Aluminum industry information, the cumulative import of aluminum in the United States from January to March was 789708 tons, a sharp increase of 347,000 tons or 78.
    3% year-on-year, and the United States aluminum exports increased by 4,979 tons or 27.
    6% year-on-year during the same period, and the growth rate of imports was higher than that of exports, indicating that U.
    S.
    aluminum demand has risen
    .

    Spot: On May 5, Shanghai traded 13880-13890 yuan / ton, discounted 40-20 yuan / ton for the month, Wuxi concentrated 13880-13890 yuan / ton, Hangzhou transaction concentrated 13900-13920 yuan / ton
    .
    The market has a strong bullish atmosphere, with the rise of aluminum futures, the willingness of holders to sell at a high price is gradually stronger, middlemen actively receive goods, downstream enterprises passively receive goods, the overall transaction is active, and the speculative atmosphere is strong
    .

    The Shanghai aluminum 1706 contract rebounded to yuan / ton during the day, and the aluminum futures also passively fell under the drag of the pressure and decline of other base metals, but the decline was relatively limited
    .
    In terms of operation, it is recommended that the Shanghai aluminum 1706 contract can be backed by 14100 yuan below the sky, the entry reference is around 13950 yuan, and the target is 13750 yuan / ton
    .

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