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    Home > Chemicals Industry > New Chemical Materials > The main force of aluminum prices is under pressure and needs to be vigilant against new lows after new lows

    The main force of aluminum prices is under pressure and needs to be vigilant against new lows after new lows

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
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    On Thursday, the main contract of Shanghai aluminum 1805 contract fell under pressure, trading at 14470-14220 yuan / ton during the day, and closing at 14260 yuan / ton at the end of the day, down 1.
    25% on a daily basis, aluminum prices performed much weaker than other base metals, hitting a low since February 22 this year
    .
    Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between the Shanghai aluminum 1804 contract and the 1805 contract slightly widened to 120 yuan / ton
    .

    Aluminum prices

    In terms of external trading, Asia Lun aluminum around 2140 US dollars / ton around narrow fluctuations, the center of gravity of the operation slightly lower than the recent shift, of which 3 months Lun aluminum trading at 2147-2134 US dollars / ton, now closed at 2139 US dollars / ton, down 0.
    07% daily, the current Lun aluminum fell into a low oscillation finishing, showing that the upper selling pressure is heavier, the lower support is concerned about 2100 US dollars / ton
    .

    In terms of the market, on March 7, Shanghai aluminum trading concentrated 14030-14060 yuan / ton, the discount for the month was 140-130 yuan / ton, Wuxi transaction concentration was 14030-14060 yuan / ton, Hangzhou transaction concentration was 14050-14070 yuan / ton
    .
    Aluminum futures rose on Wednesday afternoon, resulting in a slight expansion of spot discounts, positive attitude of cargo holders, middlemen looking for larger discounts, downstream enterprises high on-demand procurement, the overall transaction fell
    from Wednesday.

    Industry information, data released by the General Administration of Customs of China showed that China's exports of unwrought aluminum and aluminum products in February were 372,000 tons, and the export volume of unwrought aluminum and aluminum products in January and February was 817,000 tons
    .
    Compared with the same period last year, it increased by 167,000 tons from 650,000 tons, an increase of 25.
    7% year-on-year, indicating that external demand is good
    .

    Within the day, Shanghai aluminum 1805 fell under pressure to 14440 yuan / ton, and hit a new low in recent times, as domestic inventories continued to reach new highs, supply pressure increased, aluminum price rebound height was limited, short-term pressure fell back down, need to be vigilant of new lows after new lows
    .
    It is recommended that the Shanghai aluminum 1805 contract can be backed by 14450 yuan below the sky, the entry reference is around 14350 yuan, and the target is 14100 yuan / ton
    .

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