echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Aluminum sideways operation downstream light almost no deal

    Aluminum sideways operation downstream light almost no deal

    • Last Update: 2022-12-19
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the Shanghai aluminum 2008 contract opened at 14375 yuan / ton in the morning, and the aluminum price of the opening short reduction period reached a daily high of 14480 yuan / ton within 20 minutes, and then the long profit and position reduction, the aluminum price fell back and fell back to 14340 yuan / ton
    at about 10:45 minutes before the afternoon 。 In the late afternoon, aluminum ran sideways near the 5-day moving average, closing at 14395 yuan / ton at the end of the session, 08 contract positions decreased by 3645 hands to 109583 lots, Shanghai aluminum index positions decreased by 7544 hands to 379347 lots, daily K closed at the white line, the center of gravity was the same as the 10-day moving average, up 0.
    03%, mainly short positions during the day
    .

    Period aluminum

    In terms of external trading, Lun aluminum opened at 1689.
    5 US dollars / ton in the morning, during the Asian session, Lun aluminum did sideways after a slight correction in the night session, and the trend was stable, as of 15:00 Lun aluminum was reported at 1690.
    5 US dollars / ton
    .
    During the European session, bulls mainly
    increased their positions.
    Lun aluminum 30 points continued to rise to the intraday high of 1702 US dollars / ton, the end of the day Lun aluminum did sideways, as of 16:53 Lun aluminum tentatively reported 1702 US dollars / ton
    .
    Daily K temporarily closed at a white line, the center of gravity is above the 5-day moving average, and the day is dominated by long positions
    .
    In the near future, it is necessary to focus on the development of the current macro situation, and it is expected that Lun aluminum will maintain a strong trend
    in the evening.

    Aluminum fell back before noon
    .
    In the morning, the spot price of aluminum ingots in Wuxi and Shanghai was between 14550-14570 yuan / ton, and the aluminum fell at 11:00, and the market price began to be concentrated between 14540-14560 yuan / ton, which was around 40 yuan / ton from the absolute price of the previous day, and the market spot premium was between 130-160 yuan / ton, and the premium was basically flat from the previous day, and the price in Hangzhou was between
    14570-14590 yuan / ton 。 The intraday market supply is still loose, a variety of domestic brands are not lacking, the morning market trading is acceptable, a large household in the market normal receipt, 11:00 late aluminum fell faster, the market wait-and-see mood gradually rising, although the shippers are still positive, but the actual transaction is not as good as the
    morning.
    Downstream intraday on-demand procurement is the mainstay, because aluminum prices have risen compared with the previous day, and the willingness to buy goods within the day is not high
    .
    The overall transaction in East China was flat
    during the day.
    In the afternoon, the market price is around 14530-14550 yuan / ton, and the opposite plate premium is around 150 yuan / ton, only a very small number of transactions between traders, individual brand quotations are around 14470 yuan / ton, and there is almost no transaction downstream
    .
    On the fundamental side, low inventory coupled with the current tight spot liquidity, the price of aluminum will receive some support below, and the previous trend judgment will remain unchanged
    .

    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.