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    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum weak finishing dragged down by the decline of ferrous metals from the high

    Shanghai aluminum weak finishing dragged down by the decline of ferrous metals from the high

    • Last Update: 2022-12-07
    • Source: Internet
    • Author: User
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    Today's Shanghai aluminum main contract 1711 around 16500 yuan / ton around a narrow range, intraday trading at 16550-16320 yuan / ton, late down slightly 0.
    12% to 16490 yuan / ton, due to last Thursday and Friday Shanghai aluminum pressure heavy setback, so the current aluminum price from last week's high of 17250 yuan / ton has been about 4.
    3%.

    At the same time, the positive price difference between Shanghai-aluminum 1711 and 1712 contracts remained flat to 110 yuan / ton, maintaining a positive arrangement
    of near, low, far high.

    Shanghai aluminum

    In the external market, the Asian market Lun aluminum oscillation rose slightly, but the rebound is still relatively weak, of which the 3-month Lun aluminum traded at 2135-2122 yuan / ton, up 0.
    38% from yesterday to 2132 US dollars / ton, from last week's high of 2199 US dollars / ton pullback 3.
    05%, the performance of stagnation in other base metals, showing that the high pullback pressure of aluminum prices is greater
    .

    On the macro front, the Asian dollar index extended its rally and is now trading around 93.
    35, while the main U.
    S.
    crude oil contract oscillated to stabilize above
    $52 per barrel.
    Today Trump will unveil a tax reform plan that will raise the minimum personal tax rate to 12%, but double the standard deduction
    .
    In addition, the profit of China's industrial enterprises above designated size from January to August was 21.
    6% year-on-year, compared with 21.
    2%
    in the previous month.
    In terms of aluminum market information, Yun Aluminum Co.
    , Ltd.
    said that Wenshan Aluminum's annual output of 600,000 tons of alumina upgrade project strives to be put into operation
    in October.

    In terms of the market, on September 26, Shanghai aluminum trading concentrated 16220-16240 yuan / ton, the month discount 190-180 yuan / ton, Wuxi transaction concentration 16220-16240 yuan / ton, Hangzhou transaction concentration 16220-16240 yuan / ton, although due to price and environmental factors, downstream enterprises stocking efforts year-on-year, but downstream enterprises eventually have to stock up on the National Day, today downstream enterprises began to concentrate on stocking
    .
    Downstream demand increased, the aluminum shock was strong, the holders shipped at a high price, the spot discount narrowed, traders mainly received goods for downstream enterprises, and the overall transaction was slightly better
    than yesterday.

    During the day, the Shanghai aluminum 1711 contract oscillated to 16490 yuan / ton, which was significantly stagflant compared with Shanghai lead and Shanghai zinc, dragged
    down by the decline of ferrous metals from the high.
    It is recommended that the oscillation of the Shanghai aluminum operation idea turn to the short, and the 1711 contract can be backed by 16800 yuan below the high sky, and the entry reference is around 16600 yuan, and the target is 16200 yuan / ton
    .

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