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    Home > Chemicals Industry > New Chemical Materials > Aluminum prices fluctuated at high levels and continued to seek support

    Aluminum prices fluctuated at high levels and continued to seek support

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
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    On Wednesday, the Shanghai aluminum 1903 contract opened at 13400 yuan / ton in the morning, slightly down 13380 yuan / ton at the beginning of the session, the performance of the first trading stage soared and fell, and some bulls increased their positions in the early stage, pushing the aluminum price to 13430 yuan / ton, and then fell slightly to stabilize at 13400 yuan / ton
    。 After entering the second trading stage, Shanghai aluminum once again tested the upside, slowly climbed 13445 yuan / ton after stabilizing at 13425 yuan / ton, superimposed on the afternoon news that the US House of Representatives asked to postpone the lifting of Rusal sanctions, so far the bears' confidence has greatly decreased, near the close of 20 minutes of the short position sharply reduced more than 4,000 lots, Shanghai aluminum briefly rose to 13475 yuan / ton, the daily close at 13475 yuan / ton, up 45 yuan / ton, up 0.
    34%.

    Aluminum prices

    In terms of the external market, Lun aluminum jumped high at 1861 US dollars / ton in the morning, the overall performance of the Asian trading session slowly climbed the trend, and after entering the European trading session, it climbed to the highest level of 1881.
    5 US dollars / ton in the day, so far it continued to rise and initially showed difficulty, and then Shanghai aluminum fell slightly back creeping around 1868.
    5 US dollars / ton, as of 17:40, Lun aluminum stabilized and hovered at 1874 US dollars / ton line, closing at 1873 US dollars / ton, up 16 US dollars / ton, or 0.
    86%, recording a small white line, Regained some of the previous day's losses and basically stood firm on the 10-day moving average
    .

    In terms of the market, the performance of aluminum futures in the first trading stage of the month soared and fell, and the second trading stage showed a slight upward trend
    .
    The transaction price in Shanghai was traded between 13290~13300 yuan / ton, and the discount for the current month was around 30~20 yuan / ton
    .
    The transaction price in Wuxi is concentrated in 13290~13300 yuan / ton, and the transaction price in Hangzhou is concentrated between
    13300~13310 yuan / ton.
    The mainstream transaction price fell slightly by about
    10 yuan / ton compared with the previous trading day.
    The intraday aluminum fluctuates greatly, and the purchase volume of a large household is not much compared with the previous period, although the shipment of the holder is positive, but there is no significant stocking behavior in the downstream, and the purchase is basically on-demand
    .
    Trading between brokers and traders remains active
    .
    The overall transaction in East China was flat
    during the day.
    In the late afternoon, the early range of aluminum was mainly volatile, the transaction price was concentrated between 13310 ~ 13320 yuan / ton, and the monthly discount was 30 ~ 20 yuan / ton, only a small amount of transactions, the later rapid rise, although the holders actively shipped, but the actual transaction was almost nothing
    .

    Due to the recent news, it is expected that the high volatility of aluminum prices will continue to seek support, and continue to pay attention to macro events
    such as the release of news related to Sino-US trade negotiations and whether the attitude of the US House of Representatives to the cancellation of Rusal sanctions has changed.

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