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    Home > Chemicals Industry > New Chemical Materials > Aluminum was under pressure and the decline further expanded

    Aluminum was under pressure and the decline further expanded

    • Last Update: 2022-12-12
    • Source: Internet
    • Author: User
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    Base metals fell across the board on Monday, and bearish sentiment fell slightly, indicating a widening
    divergence between bulls and bears.
    Among them, the Shanghai nickel 1811 contract fell by 1.
    7%, and the Shanghai aluminum 1811 contract fell under pressure, and the decline further expanded, trading at 14635-14430 yuan / ton during the day, and closing at 14445 yuan / ton at the end of the day, down 0.
    96%
    per day.

    Period aluminum

    In the external market, the Sino-US trade war is getting fiercer, the non-ferrous metal market trend is under pressure, intraday aluminum fell sharply, and the support below is focused on $
    1900.
    As of 16:30 Beijing time, the 3-month Lun aluminum was reported at 2025 US dollars / ton, down 0.
    44% on the day, and the upper rebound resistance focused on 2100 US dollars / ton
    .

    In terms of spot, Shanghai trading concentration is 14450-14470 yuan / ton, the flat water to premium water of the current month is 10 yuan / ton, the next month discount is 20-10 yuan / ton, Wuxi transaction concentration is 14450-14470 yuan / ton, Hangzhou transaction concentration is 14480-14500 yuan / ton
    .
    Holders are actively shipped, warehouse receipts maintain a large circulation, middlemen continue to operate cautiously, downstream enterprises have not yet entered the preparation time of double festival (Mid-Autumn Festival + National Day), temporarily purchased according to just demand, and the overall transaction supply exceeds demand
    .

    On the news, the Asian dollar index fell under pressure, indicating a heavier sell-off above, now trading around 94.
    8, as the market worried that the United States will impose a 10% tariff on $200 billion of Chinese imports, thus offsetting optimistic expectations
    for the resumption of Sino-US trade talks triggered last week.

    Overall, Shanghai aluminum fell under pressure during the day, as a series of economic indicators in China performed poorly in August and primary aluminum production expanded further in
    August.
    Operationally, it is recommended that the Shanghai-aluminum 1811 contract can be backed by 14,600 yuan at a high altitude, and the target is 14,300 yuan / ton
    .

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