echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The rise in aluminum prices has been suspended, and the enthusiasm of the market for long has not weakened

    The rise in aluminum prices has been suspended, and the enthusiasm of the market for long has not weakened

    • Last Update: 2022-12-06
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Wednesday, Shanghai aluminum opened at 14435 yuan / ton in the morning, early early entry bulls have left the market to wait and see, aluminum prices under pressure to fall low touched 14370 yuan / ton, then the 5-day moving average first appeared, base metals have opened a rebound market, more into the short flat under Shanghai aluminum performance is better, the shock upward touch 14500 yuan / ton, but it is difficult to break through the point, close at 14480 yuan / ton
    .
    At present, it seems that the trend of Shanghai aluminum is still strong, and it continues to pay attention to the competition
    between long and short for 14500 yuan / ton.

    Aluminum prices

    In terms of the external market, in the morning, Lun aluminum opened at 1928.
    5 US dollars / ton, the center of gravity of Lun aluminum moved slightly down, touched the 5-day moving average low of 1925 US dollars / ton, and then Lun aluminum opened a rapid upward rebound, entering the European trading session Lun aluminum back to the daily average after continuing to rise, touching 1938.
    5 US dollars / ton, and then fell back to the daily average oscillation, as of 17:43, Lun aluminum reported 1933.
    5 US dollars / ton, the 5-day moving average continued to show strong support, it is expected that Lun aluminum short-term continue to fluctuate at a high level

    In terms of the market, the aluminum period fluctuated around the daily moving average before the afternoon of the month, first suppressed and then rose, and the aluminum at the end of the session quickly pulled the account
    .
    Shanghai transaction concentration is 14130-14160 yuan / ton, the discount for the month is 180-160 yuan / ton, Wuxi transaction concentration is 14130-14160 yuan / ton, Hangzhou transaction concentration is 14160-14170 yuan / ton
    .
    Cargo holders shipment attitude is still positive, downstream enterprises bearish, wait-and-see attitude intensified, the transaction concentration of 14130-14140 yuan / ton, the end of the day aluminum rapid rise stage, the holder with the price adjustment, the quotation as high as 14170 yuan / ton, the transaction is slightly active, the overall transaction is colder
    than the previous day.
    In the late afternoon, aluminum continued to rise that month, and holders showed a reluctance to sell, with a small transaction of 14160-14170 yuan / ton
    .

    In terms of news, data released by the Bureau of Statistics showed that among the 70 large and medium-sized cities in June, the year-on-year increase in house prices in first- and second-tier cities continued to fall, and under the property market control policy, the national property market sales cooled, and real estate investment will tend to fall
    in the later period.
    The real estate industry is one of the largest downstream consumption of copper and aluminum, and the property market is sluggish, and the upside of copper and aluminum is limited
    .

    Although the rise in aluminum prices was suspended during the day, the enthusiasm of the market for long has not weakened, and with the gradual landing of supply-side reform policies in the later period, the industry generally expects that the center of gravity of aluminum prices will shift
    upward in the medium term.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.