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    Home > Chemicals Industry > New Chemical Materials > It is difficult for aluminum prices to get out of the unilateral market in the short term

    It is difficult for aluminum prices to get out of the unilateral market in the short term

    • Last Update: 2022-12-09
    • Source: Internet
    • Author: User
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    On Tuesday, the main contract of Shanghai aluminum in the morning opened at 14350 yuan / ton, the trend of aluminum prices before the afternoon was light, around 14350 yuan / ton in a narrow range, the afternoon two meetings on the view of capacity reduction spread in the market, a number of aluminum-related stocks rose to the limit, the price of aluminum was also shocked by the sharp rise, successfully broke through the 5/10/20 daily moving average touched 14515 yuan / ton, and then the 14500 yuan / ton integer mark showed strong resistance, short profit take out of the market driven by aluminum prices to give up part of the gains, closing at 14440 yuan / ton, The Shanghai Aluminum Index position decreased by 8,040 lots to 787876 lots
    .

    Aluminum prices

    In terms of the external market, Lun aluminum opened at 2150 US dollars / ton in the morning, and the low level of the early session slightly hit 2142.
    5 US dollars / ton, and then stopped falling by the support of the 5-day moving average, and in the afternoon, it was boosted by the news of the two sessions, and it rose sharply to touch 2157 US dollars / ton, but due to the limited substantive effect of the favorable news on the price, coupled with the strong resistance of the upper 10-day moving average, the aluminum price fell rapidly, entering the European trading session Lun aluminum around the daily average of 2148 US dollars / ton A narrow range oscillation, Then again tested the 5-day moving average support low touched $2142 / ton, as of 17:54, Lun aluminum reported 2145.
    5 US dollars / ton, aluminum prices are expected to continue to fluctuate between
    the 5/10 daily moving average.

    In terms of the market, the Shanghai transaction concentration was 14060-14070 yuan / ton before the afternoon, the discount for the month was 130-120 yuan / ton, the Wuxi transaction concentration was 14060-14070 yuan / ton, and the Hangzhou transaction concentration was 14060-14080 yuan / ton
    .
    The discount narrowed, the willingness of the holders to ship increased, but at the same time showed a price attitude, the middlemen mainly received goods for the downstream, the consumption of downstream enterprises slowly picked up, and the overall transaction was average
    .

    In terms of news, Ning Jizhe, deputy director of the National Development and Reform Commission, mainly mentioned "marketization, rule of law, and standardization" on the means of reducing production capacity, and did not clarify the relevant policies for the time being, so the boost effect on aluminum prices is relatively limited, and the focus still needs to return to future fundamental changes, mainly whether demand can improve, short-term aluminum prices are difficult to get out of the unilateral market
    .

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