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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum under pressure to decline, short-term rebound pattern remains

    Shanghai aluminum under pressure to decline, short-term rebound pattern remains

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1705 fell under pressure, the operating range was 14270-14020 yuan / ton, and the end closed at 14095 yuan / ton, down 0.
    46% per day, but still effectively stabilized above the moving average group, and the upper rebound resistance focused on 14300 yuan / ton
    .
    At the same time, the positive price difference between Shanghai aluminum 1704 and 1705 contracts remained at 120 yuan / ton
    .

    Shanghai aluminum

    External market trend: Asian Lun aluminum under pressure slightly down, weaker than other base metals, the operating range of 1965-1957 US dollars / ton, of which 3 months Lun aluminum slightly fell 0.
    38% to 1958 US dollars / ton, the current Lun aluminum is still stable above the moving average group, its upper rebound resistance focus on 2000 US dollars / ton
    .

    Macro: The U.
    S.
    dollar index continued to move in a narrow range overnight, trading around
    100.
    47 early today.
    The final Markit manufacturing PMI for March was 52.
    8 vs 52.
    9 previously, while the US ADP increased by 263,000 in March, higher than the increase in February and higher than the expected 185,000, indicating that the US non-farm payrolls data for March will also be strong
    on Friday.
    Aluminum Industry Information, the Ministry of Environmental Protection decided to carry out a one-year strengthened supervision of air pollution prevention and control, implement the responsibility of local party committees and relevant departments for air pollution prevention and control, as well as the responsibility of enterprises for environmental protection and law-abiding, and promote the continuous improvement
    of atmospheric environmental quality in Beijing-Tianjin-Hebei and surrounding areas.

    Spot: On April 6, Shanghai aluminum trading concentrated 13820-13840 yuan / ton, the discount for the month was 160-150 yuan / ton, Wuxi transaction concentrated 13820-13830 yuan / ton, Hangzhou transaction concentrated 13840-13860 yuan / ton
    。 In the first stage of trading, the downward trend of aluminum fell below the 14,000 yuan / ton mark, the holders were eager to exchange cash, the shipment attitude was positive, the second trading stage, the aluminum touched the low rebound, the holders stabilized the mentality, the source of circulation has decreased, the spot discount is relatively stable, the middleman is mainly downstream to receive goods, compared with yesterday, the high level of aluminum fell down, fueling the wait-and-see mentality of downstream enterprises, and the overall transaction did not see a significant recovery
    .

    The Shanghai aluminum 1705 contract oscillated slightly to 14095 yuan / ton during the day, basically maintaining yesterday's gains, and effectively running above the moving average group, its technical form is stronger than other base metals, and the short-term rebound pattern remains
    .
    It is recommended that the Shanghai aluminum 1705 contract can be backed by 13880 yuan above the dip, the entry reference is around 13980 yuan, and the target is 14250 yuan / ton
    .

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