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    Home > Chemicals Industry > New Chemical Materials > A brief review of the aluminum market on July 10

    A brief review of the aluminum market on July 10

    • Last Update: 2022-12-19
    • Source: Internet
    • Author: User
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    Due to the overall good macro atmosphere, Shanghai aluminum rose sharply again, as of the close of 3 p.
    m.
    , the main 2008 contract of Shanghai aluminum closed up at 14375, up 160, or 1.
    13%.

    From a fundamental point of view, electrolytic aluminum continues to go to storage, the amount of warehouse receipts in the previous period is also in an absolute position, superimposed on the current spot market aluminum ingot supply is tight, many parties confidence is high, the daytime Shanghai aluminum price continues the upward trend, the end of the day sideways first appeared, it is expected that the night period aluminum price or will be slightly corrected, but the overall will still maintain a strong shock trend
    .

    Shanghai aluminum continued to have a strong trend during the week, especially the current month contract, which rose all the way above 14,800 under the strong support of spot and low inventory, and opened a price difference
    of more than 400 with the main force.
    In the short term, Shanghai aluminum is expected to maintain a high level of operation, and the main contract will temporarily focus on the 14500 mark; However, due to the large price difference between the current near and far contracts, coupled with the upcoming cash delivery, the subsequent aluminum price or there is a certain adjustment demand, it is recommended to pay close attention to the trend of the spot end, beware of high downward risk, the operation can be bought or wait-and-see, it is expected that next week's spot aluminum or first rise and then adjust, but the long-term bullish trend remains unchanged for the time being

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