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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum volatility is weak, and the future market is not easy to be overly bearish

    Shanghai aluminum volatility is weak, and the future market is not easy to be overly bearish

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    On Friday morning, Shanghai aluminum opened at 12845 yuan / ton, the aluminum price fell slightly at the beginning of the session to a narrow range near the daily moving average, and the bears concentrated on entering Shanghai aluminum before the afternoon quickly leaked, and the low volume of Shanghai aluminum at the beginning of the afternoon touched 12635 yuan / ton, and then the bulls gradually prevailed, the center of gravity of Shanghai aluminum trading slowly moved up, closing at 12700 yuan / ton at the end of the session, temporarily guarding the integer mark
    .
    The volume increased to 237702 lots, and the open position increased by 3892 lots to 117222 lots
    .
    Northwest shipments deteriorated again, manufacturers control the speed of shipments, although Shanghai aluminum is in a downward channel, but it is expected that the support from the spot market is still there, not easy to be overly bearish
    .

    Shanghai aluminum

    In terms of the external market, Lun aluminum opened at 1721.
    5 US dollars / ton in the morning, Lun aluminum touched low and rose during the Asian session, the low touched 1715.
    5 US dollars / ton, the afternoon rebound to the daily average near the upward momentum is insufficient, Lun aluminum shock downward, European trading session base metals are out of the small V trend, single London aluminum continued to fall, as of 17:37 Lun aluminum 1718 US dollars / ton, the evening data surface is light, pay attention to the domestic Shanghai aluminum trend, below the 60-day line support
    .
    Christmas is coming, and the outer market
    will be closed for a short time.

    Market: Aluminum futures fluctuated at the beginning of the month, and then fell
    sharply.
    Shanghai transaction concentration is 12850-12890 yuan / ton, the premium for the month is 70-120 yuan / ton, Wuxi transaction concentration is 12850-12920 yuan / ton, Hangzhou transaction concentration is 12850-12860 yuan / ton
    .
    After yesterday's rise in aluminum, the intraday fell sharply, the willingness of holders to change cash increased, with the price adjustment, the difference between the current month's ticket and the next month's fare was 30-40 yuan / ton, the middleman was cautious, the end of the year will be the order weakened, downstream enterprises are mainly purchasing on demand, and the overall transaction is general
    .
    In the late afternoon, aluminum touched a low month and repaired some of the decline, and the quotation of the holder was lowered to 12810-12840 yuan / ton, but there were few market inquirers and almost no transactions
    .

    Industry information: According to the statistics of the General Administration of Customs, China's primary aluminum imports in November were 41,877 tons, an increase of 258.
    44% year-on-year, and 129283 tons so far this year, a year-on-year decrease of 12.
    92%; Aluminum alloy imports were 4,557 tons, a year-on-year decrease of 31.
    06%, and year-to-date 50,829 tons, a year-on-year decrease of 17.
    73%; Scrap aluminum imports were 198,160 tons, an increase of 28.
    61% year-on-year, and 1739488 tons year-to-date, a year-on-year decrease of 9.
    39%; Alumina imports were 261637 tons, down 32.
    31% year-on-year, and 2660405 tons year-to-date, down 35.
    27% year-on-year; Bauxite imports 5163181 tons, down 4.
    68% year-on-year, and 47114765 tons year-to-date, down 3.
    29% year-on-year; In terms of exports, in November, China's aluminum alloy exports were 39,633 tons, a year-on-year decrease of 15.
    04%, year-to-date 452623 tons, a year-on-year decrease of 6.
    68%, aluminum semi-finished products exports were 340,000 tons, a year-on-year decrease of 14.
    5%, and year-to-date 3,730,000 tons, a year-on-year decrease of 2.
    4%.

    On Friday, the Shanghai aluminum 1702 contract fell under pressure to 12,700 yuan / ton, weaker than other base metals, technically, the following continue to pay attention to the support of 12,500 yuan, operationally, it is recommended that the Shanghai aluminum 1702 contract can be backed above 12,500 yuan to bargain more, the entry reference around 12,650 yuan, the target of 12,900 yuan
    .

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