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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum fell sharply in the short term or there is room for recovery

    Shanghai aluminum fell sharply in the short term or there is room for recovery

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
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    On Tuesday, the main monthly 1609 contract of Shanghai aluminum opened at 12530 yuan, the intraday high was 12590 yuan, the low was 12270 yuan, and the end of the day closed at 12480, down 160 yuan / ton
    from the previous trading day.
    Investors are worried that the global economic weakness dragged down industrial metal demand, and Shanghai aluminum fell sharply during the day, but the market still maintains a bullish attitude, and it is expected that the aluminum price will continue to maintain an upward trend after the market, and it is expected to rise
    again if it returns to above 12,500 yuan.

    Shanghai aluminum

    In foreign countries, Lun aluminum Asian market in the morning in the beginning of the short finishing after the volume of diving, fell below the 5/10 daily moving average, the low recorded 1628 US dollars / ton, and then a slight recovery around the daily moving average narrow finishing, the end of the day London aluminum trading center gradually climbed, into the European trading session, the dollar rebounded, Lun aluminum fell again, as of 17:30, Lun aluminum recorded 1638 US dollars / ton
    .

    In terms of the market, the spot trading price of Yangtze River was 12760-12800 yuan / ton, down 330 yuan / ton; Guangdong South Reserve reported 12900-13000 yuan / ton, down 280 yuan / ton; Hua reported 12870-12890 yuan / ton, down 330 yuan / ton; The average domestic spot trading price is between
    12760-12800 yuan / ton.
    Intraday aluminum fell sharply, cargo holders increased their shipments, middlemen could catch goods at low prices, and the overall transaction was better
    than yesterday.

    At present, the market has entered the off-season, demand may fall, but the recent spot aluminum supply remains tight, inventory continues to shrink, aluminum prices are still supported at the bottom, and short-term aluminum prices are expected to pick up
    .

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