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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices fell by more than 100 percent within the day, and it is expected to remain weak and volatile in the short term

    Aluminum prices fell by more than 100 percent within the day, and it is expected to remain weak and volatile in the short term

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    On Tuesday, Shanghai aluminum main 1901 contract opened at 13755 yuan / ton in the morning, the opening continued last night's weak position, all the way down below the lower band of the Bollinger band recorded the lowest 13690 yuan / ton in the day, because the price of aluminum fell more than 100 yuan in a day, and there is still some support below, some bears have left the market, Shanghai aluminum then began to rise from the low, slowly rose to 13840 yuan / ton after being hindered by the weak performance, soft to 13815 yuan / ton A narrow range of shock, the day closed at 13825 yuan / ton, down 45 yuan / ton ton, down 0.
    32%.

    Aluminum prices

    In terms of external trading, Lun aluminum opened at 1938 US dollars / ton in the morning, and the enthusiasm of market traders during the Asian trading session was not high, and Lun aluminum fluctuated to 1952 US dollars / ton after a slight softening
    。 After entering the European trading session, Lun aluminum hesitated slightly, tested down 1943.
    5 US dollars / ton, as the US dollar index entered a short decline channel, Lun aluminum took advantage of the low level to rise to touch the highest intraday 1961 US dollars / ton, but lack of lasting momentum, with the US index to open a new wave of recovery, Lun aluminum high is difficult to support, fell back to around 1950 US dollars / ton, as of 17:45, Lun aluminum closed at 1947.
    5 US dollars / ton, up 10 US dollars / ton, up 0.
    52%, closed at the small

    In terms of the market, aluminum futures maintained range-bound
    volatility after sliding low in the month.
    The transaction price in Shanghai is concentrated at 13720~13740 yuan / ton, the discount for the month is 10 yuan / ton ~ premium 20 yuan / ton, the transaction price in Wuxi is concentrated in 13720~13740 yuan / ton, and the transaction price in Hangzhou is concentrated in 13730~13750 yuan / ton
    .
    Near the delivery period aluminum ingot to the premium water, traders are active in trading, close to the delivery period shipments are not reduced, downstream goods are acceptable, East China transaction is slightly better
    than the previous day.
    In the late afternoon, aluminum stabilized and rebounded, the trading price in East China was concentrated at about 13750~13770 yuan / ton, traders recognized the price, and still showed positive trading willingness before the stop, and the afternoon market transaction was mostly the source of
    warehouse receipts.

    The intraday and internal trading were red across the board, and the low level of Lun aluminum rebounded slightly, but the overall is still below the 5/10 daily moving average, and it is expected to maintain a weak shock, continue to pay attention to the US dollar index and other metal trend changes
    .
    Shanghai aluminum recorded a sharp drop overnight, although there was a slight rebound within the day, out of the V-shaped route, but the fundamental bearish situation has not changed, has not completely recovered the night decline, is expected to continue to maintain a weak shock, looking for the lower support level, continue to pay attention to the surrounding metal and aluminum metal itself long and short force changes
    .

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