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    Home > Chemicals Industry > New Chemical Materials > The upper resistance is strong, and it is difficult for the aluminum price to continue to break through

    The upper resistance is strong, and it is difficult for the aluminum price to continue to break through

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    On Friday, the main 2007 contract of Shanghai aluminum jumped low at 12840 yuan / ton in the morning, the first trading stage of the shock fell back to the low point of the day of 12730 yuan / ton, the second trading stage began to rebound at a low level all the way, the high touched 12835 yuan / ton, because of the strong resistance of the upper 60-day moving average, aluminum prices are difficult to continue to break through, and then soft to maintain a narrow range, the daily close at 12790 yuan / ton, down 55 yuan / ton, down 0.
    43%.

    Aluminum prices

    The two sessions announced good news related to tax cuts and fee reductions during the day, but the non-ferrous disk has not yet received a bullish signal, the overall trend of the day is not strong, superimposed aluminum prices face the expectation of weakening the marginal consumption of fundamentals, did not continue to rise during the day, is expected to continue to test the resistance of the upper 10,000 mark, pay attention to the change in market trading sentiment and the release
    of related macro news.

    East China: electrolytic aluminum continued to destock, economic restart improved market confidence, aluminum prices were boosted, this week aluminum prices once stood at 13,500, but the rebound is difficult to continue, and then fall, giving up most of the gains, the overall performance first rose and then fell, the price center of gravity shifted, as of Friday, East China spot aluminum prices between 13130-13170 yuan / ton, up 130 yuan
    from last Friday.

    South China: The South China market performed significantly better than the East China market this week, with strong willingness and firm prices from cargo holders; As of Friday, the price of Foshan aluminum ingot tickets was between 13530-13630 yuan / ton, up 270 yuan from last Friday, an increase significantly more than that in East China; Downstream enterprises are obviously afraid of heights, and they mainly
    buy on demand.

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