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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum was under pressure and suffered a heavy setback, and the decline expanded significantly

    Shanghai aluminum was under pressure and suffered a heavy setback, and the decline expanded significantly

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    On Friday, the main contract of Shanghai aluminum 1711 fell under pressure, the decline expanded significantly, intraday trading at 16615-16220 yuan / ton, the end of the close down 2.
    05% to 16250 yuan / ton, the current Shanghai aluminum preliminary fell below the main average support, the risk of decline increased, next week focus on the possibility
    of making up for the decline.
    At the same time, the positive price difference between Shanghai-aluminum 1710 and 1711 contracts widened slightly to 105 yuan / ton, indicating that the willingness of forward contracts to decline expanded
    .

    Shanghai aluminum

    In terms of external trading, Asian Lun aluminum fell under pressure, falling for two consecutive days, of which 3-month Lun aluminum traded at 2107-2084 yuan / ton, down 0.
    78% from yesterday to 2087 US dollars / ton, back to the low point since August 22 this year, compared with other base metals The resistance to decline has declined, indicating that the bullish power has strengthened
    in the long and short scramble.

    On the macro front, the Asian dollar index fluctuated weakly and continued to trade around 92 as the market became risk-averse to North
    Korea's missile test.
    In addition, data from the National Development and Reform Commission showed that electricity consumption increased by 6.
    4% year-on-year in August and 9.
    9% year-on-year in July, further slowing down, continuing to cause market concerns about
    China's economic growth.
    In terms of industry, it is reported that some Japanese aluminum buyers agreed to pay $95 per ton of primary aluminum in the fourth quarter, reflecting a decline in premiums, down 19.
    5-20.
    2%
    from $118-119 in the previous quarter.

    In terms of the market, on September 15, Shanghai aluminum trading concentration 16160-16170 yuan / ton, the monthly discount 100-70 yuan / ton, Wuxi transaction concentration 16160-16170 yuan / ton, Hangzhou transaction concentration 16170-16190 yuan / ton, before diving, the holder stable shipment, traders mainly for downstream enterprises to receive goods, downstream enterprises to receive goods slightly increased, during the diving period, Shanghai transaction price spanned 16000-16160 yuan / ton, the monthly discount 90-70 yuan / ton / tons, Wuxi price spanned 15980-16160 yuan / ton, Shanghai Wuxi area only left hedging enterprises in shipments, traders and downstream enterprises wait-and-see sentiment strong, transaction is rare, Hangzhou area holders do not ship, no quotation, holders of shipments weakened, the overall transaction within the day fell
    compared with the previous day.

    During the day, the Shanghai aluminum 1711 contract fell under pressure to 16250 yuan / ton, and the decline in resistance declined, showing signs of making up for the decline, dragged
    down by the decline in copper and nickel.
    It is recommended that the oscillation of the Shanghai aluminum operation idea turn short, and the 1711 contract can be backed by 16500 yuan below the high sky, and the entry reference is around 16350 yuan, and the target is 16100 yuan / ton
    .

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