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    Home > Chemicals Industry > New Chemical Materials > Short-term positive Shanghai aluminum or continue the high consolidation

    Short-term positive Shanghai aluminum or continue the high consolidation

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
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    This week, Shanghai aluminum quickly fell after hitting a new high, the highest intraday main rose to 23,990, approaching the 24,000 mark, but the aluminum price after the surge also ushered in a sharp correction, as of Friday's close, Shanghai aluminum main 2111 contract closed at 22585, a weekly cumulative decline of 0.
    37%.

    Shanghai aluminum

    This week, Lun aluminum rushed back down, breaking through a new high during the session, rising as high as $3,000, but under the exit of the capital, the price quickly corrected, and as of Friday, the cumulative decline reached about 1.
    7%; During the week, due to the rise in global aluminum demand and the multi-party interference on the supply side, the contradiction between supply and demand intensified, and the price of aluminum rose to a new high, but with the exhaustion of the good, superimposed on the large number of profit taking of the bulls, the short-term aluminum price may face a moderate correction, the momentum slows down, you can continue to pay attention to the breakthrough of the 2900 mark, refer to the shock range 2840-2950
    .

    Following the notices issued by Yunnan, Guangdong, Guizhou and other places, Shaanxi and Jiangsu have also successively issued power rationing notices to major enterprises, requiring strict compliance with the dual control indicators of energy consumption, and the production capacity of electrolytic aluminum has intensified again during the year, driven by this core power, spot prices continue to rise; However, with the profit of long funds leaving the market and the market sentiment falling, aluminum prices fell under pressure into a pullback consolidation, and the two-day decline exceeded 1,000 yuan
    .

    Overall, supply and demand have a long-term positive effect in the face of aluminum prices, and the medium and long-term are still optimistic about the upward trend of aluminum prices, and in the short term, Shanghai aluminum may continue to consolidate at a high level, focusing on the fluctuation range of 2.
    22-23,200
    .

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