echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > The overall transaction is better Shanghai aluminum maintained a high level of volatility

    The overall transaction is better Shanghai aluminum maintained a high level of volatility

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Monday, the main 2007 contract of Shanghai aluminum opened at 12585 yuan / ton in the morning, and the opening broke free from the shackles of layers of moving averages all the way to the upside, and the afternoon high point within the day was 12830 yuan / ton, refreshing a new high in more than two months, sinking at the end of the day, and the daily close was 12760 yuan / ton, up 200 yuan / ton, up 1.
    59%.

    Shanghai aluminum

    In terms of the external market, Lun aluminum gap opened high at 1463 US dollars / ton, Asian trading session two shock upward, the high touched 1475 US dollars / ton, after entering the European trading session, first crawled to 1465 US dollars / ton to accumulate, and then opened a new round of upward testing, as of 18:05 the highest probe and 1477.
    5 US dollars / ton, closed at 1473.
    5 US dollars / ton, up 13.
    5 US dollars / ton, or 0.
    92%, closed at the small white line, is expected to maintain range volatility, test the size of the space above, Continue to pay attention to the US index and macro sentiment guidance
    .

    In terms of the market, aluminum fluctuated upward in the early afternoon and rose greatly
    .
    In the morning, the spot price in Shanghai Wuxi area is between 13140-13160 yuan / ton, the morning inquirer is most, the actual transaction volume is not obvious, as a large household began to announce the purchase plan, and the quotation is extremely ideal, the enthusiasm of the holder to ship has improved, the overall price of the market was pulled up, the later concentrated in the 13180-13200 yuan / ton, the price rose from last Friday around 170 yuan / ton, the opposite plate premium between 140-160 yuan / ton, but despite this, the spot is still tight, There are still more receivers than shippers
    .
    Intraday market traders are actively trading, and the market is still bullish on strong spot sentiment in the short term
    .
    Downstream replenishment within the day, the transaction is acceptable, but due to the sharp rise in aluminum prices, the sentiment is slightly lower than last Friday
    .
    The overall transaction in East China was relatively good
    .
    In the late afternoon, aluminum maintained a high level of volatility, the market transaction price was around 13240 yuan / ton, the opposite plate premium was around 140 yuan / ton, only a small number of transactions between traders, almost no
    downstream.

    The intraday contract rose brightly, the 06-07 spread to the close of trading from around 250 yuan / ton on Friday to 315 yuan / ton, the month contract intraday short position reduction, it is expected that the short-term and far monthly spread is difficult to quickly narrow to less than 200 yuan / ton, continue to pay attention to the recent contract positions and market trading atmosphere changes
    .
    It is expected that the main force will maintain range volatility and pay attention to the resistance level above the 13,000 yuan / ton mark
    .

    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.