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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum under pressure to fall will maintain a strong shock operation in the short term

    Shanghai aluminum under pressure to fall will maintain a strong shock operation in the short term

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    This week's Shanghai aluminum index first rose and then suppressed, Monday price affected by the market bullish resonance, the price from the lowest 14365 yuan began to rebound to close the Yang line, Tuesday fell back to around 14500 yuan, Wednesday by Hongqiao production reduction of more than 2 million tons of production capacity, the index rose straight to 14900 yuan, after which the price fell under pressure, it is difficult to form a further breakthrough
    .
    This week's report closed at 14745 yuan, up 310 yuan, or 2.
    15
    .

    Shanghai aluminum

    In the external market, this week's LME March aluminum aluminum week rose slightly, fell back to a minimum of around $1903 on Tuesday, after which the price rebounded to $1936.
    5, and began to fall again on Thursday, falling to near
    the weekly low.
    By the time of writing, it closed at $1908.
    5, down $3, or -0.
    16%
    for the week.

    In terms of the market, this week continued to be affected by off-season factors, spot aluminum discounts continued to remain above 100 figures, and downstream was dominated
    by on-demand pick-ups.
    Since Tuesday, although the spot market is still abundant, the market is unanimously bullish on the future, with holders selling at high prices and buyers taking advantage of the dip
    .
    Since then, the high price of aluminum has fallen, causing holders to increase shipments, and trading has continued to improve
    .
    On Friday, the demand for procurement was high on weekends, and early holders actively shipped, and the transaction was acceptable, and the transaction in the afternoon was light
    .

    In terms of news, the price of aluminum in this cycle under the influence of supply-side policies, sharply raised, at the beginning of the week, Shandong Province plans to implement production restrictions or reductions on alumina and electrolytic aluminum enterprises this winter, after which market rumors Hongqiao removed more than 2 million tons of illegal production capacity, so that the period aluminum increased sharply, the price once broke through to a high level, but after the madness Shanghai aluminum returned to the fundamentals, the price fell under pressure, and the aluminum market still maintained a strong shock operation
    .

    At present, the weekly K Shanghai aluminum index is rising along the 5-day moving average, KDJ gold cross into the overbought area, MACD gold cross.

    On the daily K, MACD gold cross but lack of upward momentum, KDJ gold cross, below touched the 5-day moving average of 14600 yuan support, short-term prices may continue to maintain a strong shock operation
    .

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