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    Home > Chemicals Industry > New Chemical Materials > The market wait-and-see sentiment is strong, and aluminum prices are weak and volatile

    The market wait-and-see sentiment is strong, and aluminum prices are weak and volatile

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main 1706 contract opened immediately higher, once approaching the overnight high, to 14570 yuan, but then the price came under pressure, the shock fell, once fell to the morning opening price nearby, the afternoon aluminum price rebounded and all the way to the end stage, closing at 14255 yuan, down 240 yuan, down -1.
    66%.

    Index holdings decreased by 38,430 contracts to 721,000 lots, and the trading volume expanded to 782,000 lots
    .

    Aluminum prices

    LME aluminum March contract opened today immediately higher, opening at $1896, after which the shock rose, to the highest of $1914 under pressure down, the afternoon rise narrowed, the afternoon price continued to fluctuate, before the close once straight up but immediately suppressed, and finally the Asian market closed at $1903.
    5, up $5.
    5, or 0.
    29%.

    Spot market, today's spot market mainstream trading hours trading time is general, the recent aluminum price fluctuations, downstream wait-and-see sentiment is strong, demand is not much, the market large discount shipments are also few receivers, the overall trading situation is general
    .
    In the afternoon, market trading continued to remain average
    .

    In terms of news, the overnight commodity panic was quickly released, and the major varieties of various sectors continued to fall sharply, in addition to market rumors that the management will strengthen financial supervision, and the relevant monetary policy may have a turn.

    The A-share market has also suffered a sharp decline recently, with large funds bottoming out in the afternoon and signs of management's intention to maintain stability, and the commodity market also launched a slight rebound
    .

    Technically, the main KDJ gold fork of Shanghai aluminum has become a dead fork, MACD gold cross but the opening is narrowed, not too long when the upper secondary bottom pullback indicates that the lower 14,000 yuan support is strong, short-term aluminum prices will be around the 5-day moving average of 14,300 yuan to compete.

    It is expected that the current price spread will continue to maintain a large discount, and tomorrow's quotation may continue to remain around
    14100 yuan / ton.

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