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    Home > Chemicals Industry > New Chemical Materials > Aluminum slightly pullback upward momentum is gradually weakening

    Aluminum slightly pullback upward momentum is gradually weakening

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Monday, the main contract of Shanghai aluminum 1911 opened at 14230 yuan / ton
    in the morning.
    Shanghai aluminum intraday as a whole is dominated by capital exits, long and short mutual position reduction, maintaining a narrow range
    .
    At the open, Shanghai aluminum touched the highest point of 14245 yuan / ton, and then maintained a narrow range of oscillation
    .
    Before the afternoon, the long position was mainly reduced, and the low level of Shanghai aluminum touched 14190 yuan / ton, and the position decreased by 5418 lots to 229180 lots
    .
    In the afternoon, the bears took profits and left the market, and Shanghai aluminum pulled back slightly, closing at 14215 yuan / ton
    at the end of the session.

    Period aluminum

    In terms of external disk, Lun aluminum opened at 1788.
    5 US dollars / ton
    in the morning.
    During the Asian session, Lun aluminum maintained a 5/20 daily moving average oscillation, touching a high of $1791 / ton before noon, and as of 15:00, Lun aluminum was reported at $1786 / ton
    .
    During the European session, the dollar index soared, London aluminum continued to weaken, fell below the 20/40 daily moving average, the low touched 1779 US dollars / ton, as of 17:46 Lun aluminum was reported at 1784 US dollars / ton
    .
    London is expected to continue testing the 20/40 daily support
    below.

    In the spot market, aluminum futures maintained range fluctuations
    before noon of the month.
    The spot quotations in Shanghai Wuxi market are mostly concentrated between 14310-14320 yuan / ton, a small amount of spot quotations are around 14330 yuan / ton, the opposite plate premium is between 30-40 yuan / ton, and the spot price in Hangzhou is between
    14320-14340 yuan / ton.
    Morning cargo holders shipments are more active, but more priced, and the actual transaction performance of the middleman is slightly deadlocked, after 10:30 the number of receivers gradually increased, because the middleman has expectations for the National Day before the stock, but the shipholder's shipment efforts have converged, more reluctant to sell, on the whole, the noon traders are active in trading, the transaction is good
    .
    Downstream manufacturers have a certain replenishment demand when they return on weekends, and the receipt is acceptable
    .
    In the late afternoon, aluminum maintained range volatility, the volatility was flat compared with before noon, the market holder's quotation was around 14320 yuan / ton, and the opposite plate premium was around 40 yuan / ton, although there were many receivers but the actual transaction was less, and the downstream was light
    .

    Before the National Day, Shanghai aluminum faced the problem of expected conversion of supply pressure brought by the resumption of demand to the resumption of electrolytic aluminum production, and the profit bulls gradually left the market, but at the same time, the current stage of social aluminum ingot inventory continues to decline, aluminum price upward momentum is gradually weakening
    .
    It is recommended that high-cost longs can leave the market profitably, and bears try to open positions on far month contracts at high prices
    .

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