echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai aluminum wide range volatility short-term upward weakness

    Shanghai aluminum wide range volatility short-term upward weakness

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, Shanghai aluminum fluctuated widely, and the Shanghai aluminum 1902 contract traded at 13605-13745 yuan / ton within the day, and closed at 13690 yuan / ton at the end, up or down 0.
    00%
    on the day.
    In terms of external trading, as of 15:28 Beijing time, the three-month Lun aluminum was reported at 1913.
    0 US dollars / ton, up 0.
    26% on the day, and the upper pressure level was concerned about 1930.
    0 US dollars / ton
    .

    Period aluminum

    In terms of the market, the spot price transaction of Shanghai aluminum is concentrated between 13520-13530 yuan / ton, with the receipt performance dominated by large households as the main feature, and the center of gravity in the second trading stage is drooping again, mainly range shock
    .
    In the morning, the mainstream trading price in Shanghai was between 13500-13510 yuan / ton, the discount for the current month's contract was between 70-60 yuan / ton, the transaction price in Wuxi was concentrated 13500-13510 yuan / ton, and the transaction price in Hangzhou was concentrated between 13520-13540 yuan / ton, and the mainstream transaction price fell by nearly 60 yuan / ton compared with the previous day
    .
    Due to the low price is more recognized, coupled with the approach to the weekend, the downstream receiving of goods within the day is very positive, the cargo holders respond positively to the situation, and traders are driven by the downstream transaction atmosphere to drive the market trading actively
    .

    In terms of news, the Asian market dollar volatility weakened, now trading around 96.
    748, the Fed raised interest rates as scheduled in the early morning, but also hinted that the Fed's rate hike next year will slow down, the market expects the Fed to raise interest rates twice next year
    .
    In terms of the industry, RUSAL issued an announcement saying that the United States plans to conditionally terminate sanctions against Rusal; The U.
    S.
    Department of the Treasury's Office of Foreign Asset Management has notified Congress of its intention
    to terminate, among other things, sanctions imposed on the Company within 30 days.

    During the day, Shanghai aluminum fluctuated widely, and some domestic aluminum producers suffered large-scale losses due to the continued weakness of aluminum prices, and planned to rescue themselves, including reducing production and collecting reserves, which boosted the confidence of the aluminum market; However, the United States plans to end sanctions against Rusal, and aluminum terminal demand is still weak, and it is expected that the short-term aluminum price upside is weak
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.