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    Home > Chemicals Industry > New Chemical Materials > The main contract of Shanghai aluminum stopped falling and rebounded, and it is expected that there will be more short-term volatility

    The main contract of Shanghai aluminum stopped falling and rebounded, and it is expected that there will be more short-term volatility

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    LME aluminum rose slightly on Monday, as of 15:34 Beijing time, 3-month Lun aluminum was reported at $1829 / ton, up 0.
    05%
    per day.
    The main 1909 contract of Shanghai aluminum stopped falling and rebounded, with the highest 13900 yuan / ton and the lowest 13780 yuan / ton during the day, and the closing price was 13865 yuan / ton, up 0.
    51% from the closing price of the previous trading day; The trading volume was 712.
    76 million lots, a daily decrease of 50406 lots; The position was 200,900 lots, 5,600 lots
    per day.
    The basis is -65 yuan/ton; The price difference between Shanghai aluminum in 1908-1909 widened to 0 yuan / ton
    .

    Shanghai aluminum

    Market focus, the National Bureau of Statistics announced that China's GDP in the second quarter was 6.
    2% year-on-year, 6.
    2% expected, and 6.
    4% in the previous month; China's second-quarter GDP was 1.
    6% month-on-month, 1.
    5% expected and 1.
    4%
    prior.
    The International Bureau of Statistics announced that China's primary aluminum production in June was 2.
    97 million tons, an increase of 1.
    3% year-on-year; From January to June, primary aluminum production increased by 2.
    2% from the same period last year to 17.
    41 million tons
    .
    According to foreign media news, the relevant personnel of the Indonesian Ministry of Energy, Mineral Resources confirmed that because Indonesia's six bauxite smelters are about to complete construction and can be put into operation in a short period of time, it is expected that Indonesia will stop the export
    of raw ore in 2022.

    Spot analysis, on July 15, spot A00 aluminum quotation 13780-13820 yuan / ton, the average price of 13800 yuan / ton, up 80 yuan / ton
    from the previous trading day.
    The morning market is full of supply, holders actively shipped, driven by the rhythm of large households receiving more than 10,000 tons, the market transaction is active, the intermediary trading is also positive, after 11:00 the spot price rose sharply, the market transaction activity fell significantly, because the month is close to change and the market is expected to be strong in the future, the holder is slightly uppriced, although the receiver is more but more afraid of heights, the buyer and seller transaction at this time is
    deadlocked.
    Downstream weekend return day will be partially replenished, and the receipt is acceptable
    .

    Warehouse receipt inventory, the total of Shanghai aluminum warehouse receipts on Monday was 154445 tons, a daily decrease of 821 tons; On July 12, LME aluminum stocks were 926875 tons, a daily decrease of 7,625 tons, and a decline of 46 consecutive days
    .
    As of the week ended July 12, the Shanghai Futures Exchange aluminum inventory was 419,050 tons, a weekly decrease of 2,662 tons
    .

    During the day, the main 1909 contract of Shanghai aluminum stopped falling and rebounded
    .
    The Fed cut interest rates at the end of the month or no suspense, the US dollar continued its weak trend, and Indonesia may stop the export of raw ore in 2022, which is positive for aluminum prices, but weak downstream demand has put some pressure
    on aluminum prices.
    In terms of spot, the morning market has sufficient supply, holders actively ship, driven by the rhythm of large households receiving more than 10,000 tons, the market transaction is active, the middleman trading is also active, and then the price rises sharply, and the market transaction activity declines
    significantly.
    Technically, the daily MACD red column of the main 1909 contract of Shanghai aluminum is growing, and it is expected that there will be more
    short-term volatility.

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