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    Home > Chemicals Industry > New Chemical Materials > There are many short-term bearish factors, and aluminum prices still have some downward space

    There are many short-term bearish factors, and aluminum prices still have some downward space

    • Last Update: 2022-12-11
    • Source: Internet
    • Author: User
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    On Thursday, the main contract of Shanghai aluminum opened at 14140 yuan / ton in the morning, and the bears concentrated on a wave of exit at the beginning of the session, and the aluminum price rose sharply, and the long funds took advantage of the trend to enter the market to push up the aluminum price to touch 14270 yuan / ton, and then in the long and short game, the Shanghai aluminum narrow range fluctuated at 14225 yuan / ton The first line of end-of-session funds closed out of the market, Shanghai aluminum closed at 14185 yuan / ton, up 5 yuan / ton, or 0.
    04%.

    。 The main force to reduce 1086 hands In the context of the arrival of the off-season and the continuous decline of costs, short-term bearish factors are still more than positive factors, and it is expected that aluminum prices still have some downside, but the space is limited, first pay attention to the effectiveness of
    the support of the 10,400 integer mark.

    Aluminum prices

    In terms of external trading, Lun aluminum opened at 2171 US dollars / ton in the morning, and the Asian market afternoon before Lun aluminum oscillated upward slightly touched 2178.
    5 US dollars / ton, and then entered the downward rhythm, the center of gravity continued to move down at the end of the afternoon low touched 2165 US dollars / ton, entering the European trading session The US dollar rose strongly, the base metal fell under pressure, Lun aluminum continued to be weak in the market, refreshing the intraday low to touch 2162.
    5 US dollars / ton, as of 16:58, Lun aluminum reported 2165.
    5 US dollars / ton, overseas is also about to enter the consumption off-season, Short-term aluminum prices are weak and difficult to change, and at the same time, pay attention to the guidance of the domestic market for aluminum prices in the relatively prominent contradictions
    .

    In terms of the market, the Shanghai transaction concentration was 14100~14110 yuan / ton before the afternoon, the discount for the month was 60~50 yuan / ton, the Wuxi transaction concentration was 14100~14110 yuan / ton, and the Hangzhou transaction concentration was 14130~14150 yuan / ton
    。 The market circulation warehouse receipt increased, the warehouse receipt price was 14090 ~ 14100 yuan / ton, slightly lower than the spot price, mainly because this warehouse receipt was traded before last week's delivery, the discount comparison at the time of the transaction is still profitable, the market spot circulation is sufficient, the middleman receives goods slightly more actively than the previous day, but the improvement is not obvious, the downstream enterprises are tight in funds, maintain the purchase according to just demand, and the overall transaction remains general
    .
    In the afternoon, the transaction price in East China was 14090~14110 yuan / ton
    .

    In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 788304 tons, down 2605 tons
    from the previous trading day.
    As of June 21, LME aluminum stocks fell by 1,375 tonnes to 1,131,100 tonnes
    .

    Industry news, Inner Mongolia reduces the cost of
    electricity for electrolytic aluminum enterprises in Mengxi.
    According to the electricity price support policy issued by the state for some electrolytic aluminum production enterprises in the country, in order to further strengthen the "depression" effect of electricity prices in our region and enhance the competitiveness of the electrolytic aluminum industry, with the consent of the people's government of the autonomous region, it was decided to uniformly standardize the electricity price support policy for electrolytic aluminum enterprises in Mengxi area, and convert the basic electricity price of all electrolytic aluminum enterprises in Mengxi that conforms to the national industrial policy into electricity prices, that is, 3.
    39 cents per kWh
    .
    The funds required for electricity price support will be channeled in the future electricity price adjustment, or solved
    in the next transmission and distribution price supervision cycle.
    The cost of electrolytic aluminum is reduced, and the news is bearish
    .

    On the whole, the recent downstream consumption is relatively stable, aluminum exports remain strong, aluminum ingot destocking process is still continuing, but the decline in outbound volume shows signs of weakening consumption, and the new production capacity in June will also have a certain negative effect, coupled with the cost of alumina still has downward space, aluminum prices are unlikely to rise
    sharply.
    Technically, the daily K-line or pressure 5-day moving average, KDJ indicator turned upward, it is expected that the main force of Shanghai aluminum 1808 oscillating operation, the operating range of 14000-14500, for reference
    only.

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