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    Home > Chemicals Industry > New Chemical Materials > Fundamentals have not changed Shanghai aluminum is expected to remain weak and volatile

    Fundamentals have not changed Shanghai aluminum is expected to remain weak and volatile

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
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    On Tuesday, the Shanghai aluminum main 1902 contract opened at 13655 yuan / ton in the morning, and the opening climbed along the 5-day moving average to the highest point of the day of 13725 yuan / ton, but the upper pressure was greater, after entering the second trading stage, Shanghai aluminum slightly slipped low, began to hover around the 13695 yuan / ton line, near the end of the daily session difficult to support, slipped to a low of 13660 yuan / ton, fell below the daily moving average, closed at 13680 yuan / ton, down 5 yuan / ton, down 0.
    04%, recorded a small white line, The center of gravity was basically unchanged
    from the previous day.

    Shanghai aluminum

    In terms of external trading, Lun aluminum opened at 1942 US dollars / ton in the morning, the market trading atmosphere in the Asian trading session is relatively quiet, the daily K line is mainly short-term, the volatility price difference does not exceed 8 US dollars / ton, and the trend of Lun aluminum is slightly tangled
    .
    After entering the European trading session, due to the failure to achieve an upward breakthrough for a long time, Lun aluminum began to fluctuate down, fell below the daily average all the way down to the lowest level of the day at 1935 US dollars / ton, as of 17:45, Lun aluminum seems to have a recovery trend, closing at 1940.
    5 US dollars / ton, down 6 yuan / ton, down 0.
    31%, recorded a small black line, located below
    all moving averages.

    In the spot market, aluminum futures rose at the beginning of the month, and the second trading stage basically maintained range volatility
    .
    The transaction price in Shanghai is concentrated at 13590~13610 yuan / ton, the flat water ~ premium water of the month is 10 yuan / ton, the transaction price of Wuxi is concentrated in 13590~13610 yuan / ton, and the transaction price of Hangzhou is concentrated between 13630~13640 yuan / ton, and the mainstream transaction price is basically the same
    as the previous day.
    The intraday market transaction is active, because large households maintain a large number of receiving rhythms, and the premium performance attracts holders to ship actively, and intermediaries are active in inquiring with each other, but downstream receiving is more cautious and quiet, and basically purchases
    on demand.
    In the late afternoon, aluminum fell, the decline was faster, the market transaction price was between 19560 ~ 19590 yuan / ton, for the flat water of the month, only a small range of transactions between traders
    .

    The release of LME metal inventories within the day, aluminum metal stocks surged by more than 30,000 tons when all metal stocks fell, putting pressure on prices to the downside in the context of loose overseas supply and demand
    .
    The outer metal is red fat green thin, aluminum metal decline is more obvious, is expected to continue to test back to the 5-day moving average, but the upper pressure is greater, maintain a weak shock, continue to pay attention to the dollar index and the US November producer price index annual rate and other macro data
    .
    The US dollar index fell back to the high level during the day, and Shanghai aluminum recovered some of its overnight losses, but under the background of unchanged fundamentals, it is expected to maintain weak volatility, and continue to pay attention to the impact of data such as the US dollar index, China's money supply in November and the scale of social financing loans on the market trading atmosphere
    .

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