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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum continues to fall, short-term decline space may be limited

    Shanghai aluminum continues to fall, short-term decline space may be limited

    • Last Update: 2022-12-07
    • Source: Internet
    • Author: User
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    Today, the main contract of Shanghai aluminum 1802 contract oscillated and rebounded, the performance was stronger than Lun aluminum, trading at 14280-14085 yuan / ton during the day, closing at 14225 yuan / ton at the end, up slightly by 0.
    78% on the day, and the daily closing price was close to the low set on June 30 this year, and the risk of decline remained
    .
    Shanghai aluminum continued the positive arrangement of near low and far high, in which the positive price difference between Shanghai aluminum 1801 contract and 1802 contract was flat at 95 yuan / ton
    .

    Shanghai aluminum

    In terms of external trading, Asian Lun aluminum continued to fall under pressure, of which 3 months Lun aluminum traded in 2027-2010 US dollars / ton, now trading around 2013.
    5 US dollars / ton, down 0.
    15% per day, the current Lun aluminum is still running below the recent oscillation finishing platform, short-term decline risk remains, and the evening again pay attention to the lower 2000 US dollars / ton integer mark support
    .

    In terms of the market, on December 8, Shanghai aluminum trading concentrated 13900-13910 yuan / ton, the discount for the month was 130-120 yuan / ton, Wuxi transaction concentrated 13900-13910 yuan / ton, Hangzhou transaction concentrated 13920-13940 yuan / ton
    .
    Cargo holders are actively shipping, intermediaries mainly receive goods for downstream enterprises, and downstream enterprises purchase on demand, due to a slight increase in the volume of stocking on weekends, the overall transaction is slightly warmer
    than yesterday.

    On the macro front, the Asian dollar index extended its rally and now rose to around 93.
    9, partly boosted
    by strong U.
    S.
    employment data.
    China's November imports rose 17.
    7% year-on-year, 13% expected; Exports surged 12.
    3% year-on-year, much stronger than the expected 5.
    3%.

    Watch the US non-farm payrolls data for November tonight, where the market is expected to increase by 185,000
    .
    In terms of aluminum market industry information, customs data show that China's exports of unwrought aluminum and aluminum products in November were 380,000 tons, an increase of 8.
    6% month-on-month, ending the four consecutive months of decline, but still lower than the average monthly export value of 396,000 tons during the year, unchanged year-on-year; the cumulative export volume from January to November was 4.
    35 million tons, an increase of 3.
    7%
    year-on-year.

    During the day, Shanghai aluminum 1802 oscillation rebounded to 14225 yuan / ton, but still running below the moving average group, the technical pattern is weak, short-term aluminum market bearish atmosphere is strong, but after continuing to fall, aluminum prices have fallen to around 14200 yuan, the decline space or limited
    .
    It is recommended that the Shanghai aluminum 1802 contract can sell high and low in the range of 14150-14350 yuan, with a stop loss of 100 yuan / ton
    each.

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