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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum volatility higher, cautious continuation of the rebound pattern

    Shanghai aluminum volatility higher, cautious continuation of the rebound pattern

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1706 oscillation higher, but the increase is limited, intraday trading at 14215-14460 yuan / ton, the end of the day closed up to 14375 yuan / ton, up 0.
    31%
    per day.
    At present, Shanghai aluminum still continues to run above the main moving average group, and the rebound pattern remains good
    .
    At the same time, the positive price difference between Shanghai aluminum 1705 and 1706 contracts narrowed slightly to 85 yuan / ton
    .

    Shanghai aluminum

    Externally: LME aluminum fell again today, showing heavier selling pressure above, of which 3-month Lun aluminum edged down 0.
    26% to $1945 / ton, but it is still barely stable above the moving average group, the technical form is stronger than other base metals, and the lower support focuses on $1900 / ton
    .

    Macro: The Asian dollar index retreated higher, indicating that the rally was blocked, and is now trading around 99, now hitting a new low
    since November 11, 2016.
    It is reported that US President Trump is willing to delay the construction of the border wall until September in the fall to reduce the probability
    of a government shutdown this week.
    In addition, this week the White House will unveil the specific principles of the US tax reform, and the details of the plan will not be revealed until June
    .
    Aluminum industry information, according to the Ministry of Environmental Protection, the third batch of central environmental protection inspection work has been fully launched
    .
    The newly established seven central environmental protection inspection teams have been stationed in Tianjin, Shanxi, Liaoning, Anhui, Fujian, Hunan and Guizhou since the 24th to carry out environmental protection inspections
    in seven provinces (cities).

    Market: On April 25, Shanghai aluminum trading concentrated 14110-14130 yuan / ton, the discount for the month was 140-120 yuan / ton, Wuxi transaction concentration was 14110-14120 yuan / ton, Hangzhou transaction concentration was 14130-14140 yuan / ton
    .
    Holders of stable shipments, the mainstream trading time, the period of aluminum narrow range oscillation, traders have limited room for operation, the recent period of aluminum sideways volatility, downstream enterprises stable procurement, the overall transaction to maintain stability
    .

    Intraday Shanghai aluminum 1706 contract oscillation rose slightly to 14375 yuan / ton, the performance is stronger than other base metals, the current Shanghai aluminum barely above the main moving average group, need to continue to pay attention to the latest progress
    of domestic electrolytic aluminum supply-side reform.
    In terms of operation, it is recommended that the Shanghai aluminum 1706 contract can be backed above 14200 yuan to bargain more, the entry reference is around 14300 yuan, and the target is 14500 yuan / ton
    .

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