echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The trend of aluminum is still strong, above all moving averages

    The trend of aluminum is still strong, above all moving averages

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the main contract of Shanghai aluminum 1905 opened at 13785 yuan / ton
    in the morning.
    After the opening, Shanghai aluminum maintained a narrow range of oscillation, and the low touched 13755 yuan / ton
    .
    Subsequently, due to the weekly decline of 20,000 tons of social aluminum ingot inventory, the short flat more into the Shanghai aluminum rushed up to touch 13840 yuan / ton, which is the recent high, but the high attracted bulls to profit and close their positions, Shanghai aluminum shock operation, closed at 13810 yuan / ton in the afternoon, located above
    all moving averages.

    Period aluminum

    In terms of external trading, Lun aluminum opened at 1932.
    5 US dollars / ton
    in the morning.
    During the Asian session, after the initial dip of Lun aluminum briefly touched 1932.
    5 US dollars / ton, Lun aluminum gradually recovered, based on the daily moving average, maintaining a range of 1936-1939 US dollars / ton, as of 15:00 Lun aluminum reported 1937 US dollars / ton
    .
    During the European session, the volatility of London aluminum intensified, after touching 1944.
    5 US dollars / ton at a high level, there was a reduction in positions and leaving the market, Lun aluminum fell sharply to a low of 1916 US dollars / ton, as of 16:32 Lun aluminum reported 1937 US dollars / ton
    .

    In terms of the market, the first trading range of aluminum futures maintained range volatility before noon of the month, and fell back after rushing higher in the second trading stage
    .
    The first trading range market transaction price is between 14010~14030 yuan / ton, the second trading range Shanghai transaction price is between 14030~14050 yuan / ton, the monthly premium is around 260~280 yuan / ton, the transaction price is about 80 yuan / ton higher than the previous day, the transaction price in Wuxi is between 14030~14050 yuan / ton, and the Hangzhou transaction price is between
    14050~14070 yuan / ton.
    Intraday premiums continue to expand, but due to the impact of tax cuts, traders have significantly more indirect goods than shippers
    .
    The willingness to receive goods downstream has not shown a decline, and the procurement is active, not only in the East China market, but also in the northern market, and the enthusiasm for downstream procurement has also improved
    .
    In the late afternoon, aluminum maintained range volatility, the market transaction price was between 14030~14050 yuan / ton, the monthly premium was in the range of 260~280 yuan / ton, the afternoon market was light, only a small number of transactions between traders
    .

    During the day, the inventory of social aluminum ingots fell significantly again, and with the recent reluctance to sell, the trend of Shanghai aluminum is still strong
    .
    Because the spot A00 aluminum price touched the 10,000 mark, but Lun aluminum fell sharply, testing whether Shanghai aluminum will be dragged down by Lun aluminum and whether it can hold 13800 yuan / ton
    .

    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.