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    Home > Chemicals Industry > New Chemical Materials > The possibility of a slight upside in the short term of Shanghai aluminum still exists

    The possibility of a slight upside in the short term of Shanghai aluminum still exists

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
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    On Tuesday morning, Shanghai aluminum opened at 12635 yuan / ton, after the opening more into the short flat, aluminum prices continued to rise, 12700 yuan / ton integer mark Shanghai aluminum has repeated, narrow finishing for a moment long concentrated entry broke through the point in one fell swoop, forcing the bears to flee, Shanghai aluminum touched 12815 yuan / ton, but the 10-day moving average superimposed on 12800 yuan / ton integer showed strong resistance, Shanghai aluminum has never been able to effectively break through, and finally closed at 12790 yuan / ton
    .
    At present, the Shanghai aluminum pattern shows that the bears' confidence is gradually fading, the bulls have tried to enter more, and the short-term Shanghai aluminum slight upside possibility still exists, focusing on whether the 10-day resistance continues to be effective
    .

    Shanghai aluminum

    Macro: Japan's December Tokyo CPI 0.
    0% y/y, 0.
    4% expected, 0.
    5%
    prior.
    Japan's December Tokyo core CPI (excluding fresh food) -0.
    6% y/y, -0.
    4% expected and -0.
    4%
    prior.
    Japan's Tokyo Core - Core CPI (excluding food and energy) in December was -0.
    2% y/y vs 0.
    0% expected and 0.
    0%
    prior.
    Japan's national CPI in November was 0.
    5% year-on-year, 0.
    5% expected, and 0.
    1%
    prior.
    Japan's national core CPI (excluding fresh food) in November was -0.
    4% year-on-year, -0.
    3% expected, and -0.
    4%
    in the previous month.
    Japan's national core-core CPI (excluding food and energy) in November was 0.
    1% year-on-year, 0.
    1% expected and 0.
    2%
    prior.

    In terms of the market, aluminum futures fluctuated upward before noon that month
    .
    Shanghai transaction concentration is 12840-12860 yuan / ton, the premium of the month is 110-160 yuan / ton, Wuxi transaction concentration is 12800-12840 yuan / ton, Hangzhou transaction concentration is 12800-12850 yuan / ton
    .
    Aluminum rose in the month, although the social inventory continued to increase, but the holders settled at the end of the year, the circulation of goods was tight, the holders sold at a high price, the middlemen took advantage of the low for the downstream to receive goods actively, downstream enterprises due to production and bill demand and purchase, under the premise of bill demand, the overall transaction before the year was more active
    .
    In the late afternoon, aluminum fluctuated at the high level of the month, and the cargo holders maintained a control attitude towards shipments, and the spot transaction in Shanghai was 12840-12860 yuan / ton, and the willingness of middlemen to receive goods was more positive
    than usual afternoon.

    The end of the year is approaching, aluminum market traders dumped large, aluminum prices fell sharply, stimulating buyers to buy at the bottom, short-term aluminum prices or bottom stabilization, and enterprises are busy closing, market transactions are relatively light
    .
    However, with the advent of the off-season of consumption, the willingness of bulls to take profits at the end of the year is strong, and the sentiment of long is cooling, and aluminum prices continue to rebound limitedly
    .
    The main force of Shanghai aluminum shorts around 12,500 yuan sharply reduced their positions, indicating that the support below is still very strong
    .
    Technically, a short-term rebound is formed, and the bottom divergence of the 30-minute and 60-minute levels is successfully constructed, but the position and trading volume have decreased significantly, and the rebound high sees the bottom neckline of 12850 yuan
    .
    Tonight can be high and short
    .

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