Experts predict 11th aluminum futures trend in Shanghai
2024-06-07 14:06:07
On Dec. 8, Shanghai Aluminum opened slightly higher and steadily rebounded, with contracts in the near-month slightly higher. Industry analysts believe that aluminum prices have continued to rise strongly and aluminum prices have regained strength due to factors such as declining inventory.
On Friday, December 8, the Shanghai Futures Exchange (SHE) aluminum main 702 contract opened at 20,190 yuan and closed at 20,280 yuan, up 160 yuan. The spot 612 contract closed at 21,000 yuan, up 170 yuan.
Meliya Futures analyst Li Li believes that there is still room for growth in London Aluminum, Shanghai Aluminum will maintain high volatility pattern.
Recently, the Lon-Aluminum market has expired due to a large number of call options, causing the bulls to force positions in the futures market, trying to push up the futures price to execute their call options in the short term, thus benefiting the futures and options markets at the same time. However, as the call option expires, the bullish willingness to start weakening, the spot premium falls to a negative value, and the market structure becomes positive again.
This week (up to the 8th) domestic side, the stability of the spot makes Shanghai aluminum reflect the volatility of Alluminium flat, basically maintaining a high level of shocks, which also makes a substantial decline in domestic and foreign prices. Through the comparative analysis of domestic and foreign price ratios and domestic aluminum prices, domestic aluminum prices have always fluctuate around the balance point of export break-even. When there is a serious deviation between domestic and foreign prices, the two will adjust each other and reach a balance. Before the country raised the tariff on electrolytic aluminum exports, the profit and loss ratio of the export remained at around 7.5, and after the tariff was raised, the ratio became 6.8. At present, the ratio between the two is 7.2, and the normal export ratio is obviously higher when the tariff is raised. However, given the fact that the domestic spot market still maintains a low-rising water and high-stock situation, it is unlikely that there will be a substantial drop. Therefore, the market outlook may continue. Lun aluminum rose sharply and Shanghai Aluminum maintained a high level of volatility.
Jinlong Futures analyst Li Longzeng believes that aluminum prices have shown signs of regaining strength as a result of the decline in inventories.
In the background of the fall of the base metals on the 7th, Lon-Aluminum was unique, rising slightly above 2800.
Shanghai Aluminum this week (as of the 8th) has little volatility, the trend is relatively flat during the day, and transactions are not active. The main contract from 0702 on the 4th to Wednesday on the 6th fluctuates within a narrow range between 20200 and 20350. On the 7th, with the aluminum callback, the price is low and the price is higher, which is more resilient. On the 8th, Lun Aluminium's pace rebounded further. This week's apparent inventory fell by 2447 tons, the current total inventory of 18,826 tons. The drop in inventory has made the spot market atmosphere a special number, among which the Guangdong market has a trading range of 21,160 to 21,400 yuan/ton on Friday.
At $2,850, which is the resistance level of Lonco's previous price, Lon Ae is currently gaining momentum at the 2800 position for a week. The market outlook is expected to impact this early resistance. From a technical perspective, the aluminum bulls average system is well aligned. After mid-November, after the consolidation of the 12-day moving average between the 30-day moving average and the 60-day moving average, the position support of the lower 2700 is better. Shanghai Aluminum, after finishing in the first three trading days of the week (6th), retraced the exchange rate of Aluminum and led to a drop in inventories. On Thursday (July 7), Friday (8th), it regained strength. sign. Operational recommendations are based on long ideas.
On Friday, December 8, the Shanghai Futures Exchange (SHE) aluminum main 702 contract opened at 20,190 yuan and closed at 20,280 yuan, up 160 yuan. The spot 612 contract closed at 21,000 yuan, up 170 yuan.
Meliya Futures analyst Li Li believes that there is still room for growth in London Aluminum, Shanghai Aluminum will maintain high volatility pattern.
Recently, the Lon-Aluminum market has expired due to a large number of call options, causing the bulls to force positions in the futures market, trying to push up the futures price to execute their call options in the short term, thus benefiting the futures and options markets at the same time. However, as the call option expires, the bullish willingness to start weakening, the spot premium falls to a negative value, and the market structure becomes positive again.
This week (up to the 8th) domestic side, the stability of the spot makes Shanghai aluminum reflect the volatility of Alluminium flat, basically maintaining a high level of shocks, which also makes a substantial decline in domestic and foreign prices. Through the comparative analysis of domestic and foreign price ratios and domestic aluminum prices, domestic aluminum prices have always fluctuate around the balance point of export break-even. When there is a serious deviation between domestic and foreign prices, the two will adjust each other and reach a balance. Before the country raised the tariff on electrolytic aluminum exports, the profit and loss ratio of the export remained at around 7.5, and after the tariff was raised, the ratio became 6.8. At present, the ratio between the two is 7.2, and the normal export ratio is obviously higher when the tariff is raised. However, given the fact that the domestic spot market still maintains a low-rising water and high-stock situation, it is unlikely that there will be a substantial drop. Therefore, the market outlook may continue. Lun aluminum rose sharply and Shanghai Aluminum maintained a high level of volatility.
Jinlong Futures analyst Li Longzeng believes that aluminum prices have shown signs of regaining strength as a result of the decline in inventories.
In the background of the fall of the base metals on the 7th, Lon-Aluminum was unique, rising slightly above 2800.
Shanghai Aluminum this week (as of the 8th) has little volatility, the trend is relatively flat during the day, and transactions are not active. The main contract from 0702 on the 4th to Wednesday on the 6th fluctuates within a narrow range between 20200 and 20350. On the 7th, with the aluminum callback, the price is low and the price is higher, which is more resilient. On the 8th, Lun Aluminium's pace rebounded further. This week's apparent inventory fell by 2447 tons, the current total inventory of 18,826 tons. The drop in inventory has made the spot market atmosphere a special number, among which the Guangdong market has a trading range of 21,160 to 21,400 yuan/ton on Friday.
At $2,850, which is the resistance level of Lonco's previous price, Lon Ae is currently gaining momentum at the 2800 position for a week. The market outlook is expected to impact this early resistance. From a technical perspective, the aluminum bulls average system is well aligned. After mid-November, after the consolidation of the 12-day moving average between the 30-day moving average and the 60-day moving average, the position support of the lower 2700 is better. Shanghai Aluminum, after finishing in the first three trading days of the week (6th), retraced the exchange rate of Aluminum and led to a drop in inventories. On Thursday (July 7), Friday (8th), it regained strength. sign. Operational recommendations are based on long ideas.
Nozzle Flowmeter,Nozzle Flow Meter,Nozzle Flow Meter Equipment,Nozzle Type Flow Meter
Jingsu Huaerwei Science and Technology Group Co.,Ltd , https://www.hewflowmeter.com