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    Home > Chemicals Industry > New Chemical Materials > The market lacks favorable support and aluminum prices are weak to rise

    The market lacks favorable support and aluminum prices are weak to rise

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main month 1702 contract opened at 13150 yuan, intraday high 13175 yuan low 12920 yuan, and closed at 13120, down 105 yuan / ton
    from the previous trading day.
    U.
    S.
    economic data to consolidate the Fed's interest rate hike prospects next week, Shanghai aluminum fell sharply today, the current market lacks good news support, aluminum prices are weak upward, it is recommended that investors can maintain a wait-and-see attitude
    .

    Aluminum prices

    In the external market, the LmeS aluminum 3-month contract rose slightly to $1710 this morning, under pressure all the way down to $1700, and then the price fluctuated in a narrow range above $1700, closing as low as $1715 at midday, and a strong wave of strength in the afternoon, making the price stand at $1710 and the highest to $1714.
    5
    .
    As of the Asian market close, it closed at $1713, up $6, or 0.
    35%.

    In terms of the market, today's Shanghai Nonferrous Metals Trading Center (SME) spot aluminum quotation in the morning was 13410-13450 yuan / ton, compared with the previous decline today has amplified, today down 260 yuan / ton, the premium is b90-b50, with the futures price plummeted, the spot discount increased
    .
    The spot aluminum index of the Shanghai Nonferrous Metals Exchange Center was at 13537.
    45 points, down 260 points
    from the previous session.
    Due to the weakening of demand in winter, the current environmental protection strict inspection terminal, affected by the end of the year of clearance, middlemen also began to bearish, a large number of sales and shipments in the morning, downstream and buyers bearish mentality continues to maintain a strong attitude, the receiving situation is general, the afternoon price rebound, so that the afternoon overall shipment becomes less, few transactions, the overall transaction of the market is soft
    .

    In terms of news, Vietnam's aluminum rod market is expanding from Southeast Asia to Japan
    .
    One Japanese buyer said he would buy hundreds of tons of aluminum rods a month, both Vietnamese and Japanese
    .
    At the same time, he also said that Vietnamese aluminum rods are more marketable, because the price of Vietnamese aluminum rods is 1-3 US dollars / ton
    lower than the market circulation price.

    Near the end of the year, the market is filled with a large number of northwest aluminum ingots, consumption has weakened, and the expectation of resumption of production will put pressure
    on the recent upward trend of aluminum prices.
    The technical level continues to maintain a biased space, Lun aluminum continues to double dead cross today, the $1700 integer mark has been supported twice, and the current downside space has not opened
    .
    Aluminium will fluctuate
    slightly above $1710.
    The main MACD dead fork of Shanghai aluminum continued to open, and the KDJ dead fork entered the oversold area, closing the long lower movie star line today, and the support below was obvious
    .
    In recent days, black and colored varieties have risen strongly, and aluminum prices have also adjusted deeply, there may be a small opportunity to make up for the rise, short-term will be mainly volatile, but still to the high and short
    .

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