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    Home > Chemicals Industry > New Chemical Materials > The fundamentals are still strong and Shanghai aluminum is strong and volatile

    The fundamentals are still strong and Shanghai aluminum is strong and volatile

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
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    On Friday, boosted strongly by the black series, metals recorded varying degrees of intraday gains
    .
    Shanghai aluminum opened at 14690 yuan / ton in the morning, after the opening of the bulls took the initiative to increase their positions under the Shanghai aluminum shock upward, then the long and short game under the aluminum price around 14775 yuan / ton a line of shock sorting, in the afternoon by a news for the thermal power plant shutdown and slow construction list, Shanghai aluminum once touched 14850 yuan / ton, but then fell back to the level before the rise, the market reaction is more limited, the shock closed at 14765 yuan / ton
    。 Although the supply-side reform work has temporarily come to an end, the impact of environmental protection on electrolytic aluminum production capacity and captive power plants is still the leading factor to boost aluminum prices, Shanghai aluminum target pointed to 15,000 yuan / ton, next week is expected to be 14550 ~ 14950 yuan / ton of Shanghai aluminum core operating range, pay attention to this week's surge in position change trend
    .

    Shanghai aluminum

    In terms of the external market, Lun aluminum opened at 1914.
    5 US dollars / ton in the morning, the Asian session basically struggled between the moving averages, the high touched the 10-day moving average touched 1920.
    5 US dollars / ton, the low 60-day line supported Lun aluminum, but the end of the session aluminum price suddenly leaked, into the European trading session to continue to probe, once pierced the 40-day line touched 1904.
    5 US dollars / ton, and then the 40-day line support showed again, Lun aluminum repair part of the decline back to the daily moving average near the daily average, as of 18:00, Lun aluminum reported 1910 US dollars / ton, down $2
    。 The decline rate of Lun aluminum inventory gradually decreased, consumption weakened led to a decline in overseas spot premium, Lun aluminum trend passive, or continued to be weaker than Shanghai aluminum, is expected to operate in the next week 1900 ~ 1930 US dollars / ton
    .

    In terms of the market, aluminum futures continued to rise before noon of the month and then fluctuated
    at a high level.
    Shanghai transaction concentration is 14450-14460 yuan / ton, the discount for the month is 140-120 yuan / ton, Wuxi transaction concentration is 14450-14460 yuan / ton, Hangzhou transaction concentration is 14480-14500 yuan / ton
    .
    Smelter shipments decreased, the circulating supply was slightly less than yesterday, downstream enterprises passively stocked the weekend, traders mainly received goods for downstream enterprises, and the overall transaction was warmer
    than yesterday.

    In terms of news, China Hongqiao to the capacity of the news temporarily ended, market speculation continues to cool, media analysis, the world's largest aluminum producer China Hongqiao will close, replace more than 2 million tons of backward aluminum production capacity, just "old for new" or "equal replacement", will not affect the actual output, so the news is basically digested
    .
    Shanghai aluminum night trading showed that the continued volatility fall, falling to 14600 yuan hovering, but the de-capacity expectation accelerated, the fundamentals are still strong, it is expected that Shanghai aluminum in the range of 14600-14800 yuan is strong
    .

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