echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum high volatility downstream performance is light

    Aluminum high volatility downstream performance is light

    • 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 Wednesday, the Shanghai aluminum main continuous position moved to 1907 contract, opened at 14320 yuan / ton, driven by the rise of Lun aluminum, bulls are full of confidence to continue to increase positions to enter, aluminum prices continued to rise steadily in night trading, touching as high as 14360 yuan / ton, there was a slight increase in short positions at the end of the session, aluminum prices slightly corrected, and finally closed at 14340 yuan / ton, up 160 yuan / ton, up 1.
    13%.

    Period aluminum

    In terms of external trading, Lun aluminum opened low at 1810.
    5 US dollars / ton in the morning, due to the easing of the macro situation, the price rose strongly to around 1840 US dollars / ton and then sideways until the end of the Asian market, rushing up to 1849 US dollars / ton after being blocked from falling, after entering the European trading session, Lun aluminum was affected by the general decline of surrounding metals to accelerate the downward turn, 1-hour K-line fell below the 5/10/20 daily moving average, tested down $1830 after being supported to rise above the daily moving average, and the volatility around the daily average intensified after the European session

    In the spot market, aluminum futures opened the month with range volatility
    .
    In the first trading stage, the transaction price of Shanghai part is between 14320-14340 yuan / ton, a large account in this price range in East China received more than 10,000 tons, the holder shipment is very active, and then entered the second trading stage, after the end of the acquisition of the large account on the same day, traders began to trade on their own, Shanghai spot transaction price began to concentrate between 14310 ~ 14330 yuan / ton, the price rose more than 100 yuan from the previous day, the current month plate discount 20 ~ 10 yuan / ton, Wuxi spot transaction price in 14310 ~ Between 14330 yuan / ton, the transaction price in Hangzhou is between
    14330~14350 yuan / ton.
    Due to the sharp rise in aluminum prices, under the background of superimposed delivery and exchange months, there are still more market shipments than receivers, and the premium has dropped significantly from the previous day, and traders and middlemen are trading better
    .
    However, the downstream fear of heights is obvious, mainly on-demand procurement, and the amount of goods received is not much
    .
    In the late afternoon, aluminum maintained range volatility, only a small number of transactions between traders, the price was around 14320 yuan / ton, the discount for the month was around 20 yuan / ton, and the downstream performance was light
    .

    In the short term, the internal and external colored plates are greatly fluctuated by the international situation, and the strong trend of aluminum prices is also supported
    by the rise in the price of alumina at the cost side.
    It is necessary to continue to pay attention to the change in the market's sentiment towards macro trends and the production and operation of alumina, which is expected to fluctuate
    between 14280-14350 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.