On November 14th, Shanghai Aluminum opened slightly higher and finished lower, closing slightly higher across the board. Industry analysts believe that the declining inventory will provide support for aluminum prices, while the decline in copper to some extent poses a drag on aluminum prices. On Tuesday, November 14, the Shanghai Futures Exchange (SHE) aluminum main 701 contract opened at 20,130 yuan and closed at 20,100 yuan, up 150 yuan; the spot 611 contract closed at 20,990 yuan, up 110 yuan. Declining stocks will provide support for aluminum prices, while the decline in copper will be a drag on aluminum prices to some extent. LME Aluminum closed up 10 US dollars to 2,705 US dollars / ton in the evening trading on the 13th. After the market price broke through the shock box from 2400 to 2600, there were technical requirements for adjustment. From the trend of last night, the price fell back to 2630 points and received effective support, indicating that the previous breakthrough was basically effective. On the domestic front, Shanghai Aluminum recently experienced a wide range of oscillations. The main contract of 0701 rushed to 20350 points and was blocked. The final price closed at 20,100 yuan/ton. The closing price once again stood below the 5-day moving average and the 5-day moving average. There was a downturn. It is expected that prices will fall back on the 15th, but the bottom support of the 19390 is still relatively strong, and the market price is still expected to oscillate within the range of 19,390 to 20,400. Declining stocks will provide support for aluminum prices, while the decline in copper will be a drag on aluminum prices to some extent. Before the copper has stabilized, it is difficult for aluminum to leave the independent market. Shanghai Aluminum, following its low stocks, followed London Aluminum's massive swings and currently lacks new deals. On the 14th, Shanghai Aluminum went through a wide range of shocks. In early trading, the main contract 701 opened slightly higher at 20130. After the impact of 20350, it suffered a sell-off. The price dropped back to around 20,000. There was a short-term bull run, and the short-term bulls left the market with a final close of 20,100. Shanghai spot aluminum rose 180 yuan to 21,145 yuan / ton, Guangdong Nanhai spot rose 260 yuan, trading range at 21200 to 21,300 yuan / ton, futures closed 20990 this month. The London Metal Exchange (LME) base metal on the 13th copper and aluminum out of the steady decline after the sharp decline in the market, while lead fell sharply, three-month aluminum exploration rebounded, showing strong support in the 2630 line, late closing It dropped 19 US dollars to 2714, and closed 2705 during the electronic trading session, up 10 US dollars. The trading volume on that day was enlarged to 225,753 lots, and the positions were increased by 5176 lots, and the inventory was reduced by 525 tons. The US dollar strengthened on the 13th, regaining some of its losses last week as investors reassessed the possibility of foreign central banks reducing their holdings of US dollar reserve assets. This puts some pressure on the entire product. This week will usher in a lot of economic data. On the 14th, we will publish data on Germany's inflation and investor confidence, as well as UK inflation data, and the US October PPI data. Shanghai Aluminum's lightening of the 14-day decrease led to long-term uncertainty about the market outlook and dependence on London Aluminum. In pure technology, Shanghai Aluminum rebounded after seeing a high of 21240, after 14 trading days. Out of a triangular pattern, the current price is slightly below the triangle in the middle of the triangle, with the upper edge at 20580 and the lower edge at 19900. If the market breaks above and below this level, it can be seen as a breakthrough in the triangle pattern, otherwise it will still be in shock. in. London Aluminium has demonstrated its strong support for low inventory and the contradiction between the overall adjustment of London's basic metals. Shanghai Aluminum has also experienced great fluctuations following London's aluminum stocks in low stocks. There are more recent price trading transactions in two trading days. The move, although Shanghai Aluminum showed its desire to cover up gaps on the 10th, but the lack of corresponding support for themes, so the technical resistance at the line of 20300 showed a lot of resistance, the current block at 19,900 to 19,800 line. Stove Coffee Maker Use,Stovetop Coffee Maker Grind Size,Bialetti Coffee Maker Parts,Stovetop Coffee Maker Camping Ningbo DeNeu Imp. & Exp. Co., Ltd , https://www.deneucn.com
Experts predict the trend of aluminum futures in Shanghai on the 15th