Construction Securities (10.28): Copper and Aluminum

The "Risk Warning" section of the journal aims to describe the risk of long and short positions through the icon of the star flag. It can be used as a reference for investors when dealing with open positions. In practice, investors need to trade according to their own short-term lines. Different strategies and different varieties of fluctuations in the characteristics of a specific grasp. The specific star classification criteria are as follows: ☆ The reverse run range of new-year closing price may be less than 2%. ☆ ☆ The reverse run range of new-year closing price may be greater than 2%. ☆☆ ☆ The period price is the reverse of the newer closing. The rate may be greater than 3%. ☆☆☆☆ The reverse run of the period from the newer closing may be greater than 4%. ☆☆☆☆☆ The reverse run of the period from the newer closing may be greater than 5%. Risk Warning: Bulls: ☆ Short Risks: ☆ Tips before the market: Orient: Copper: A sharp drop in oil prices will support the price of copper, while US new home sales data in September will also boost the price of copper. Under the effect of short covering, yesterday's LME March copper. There was a slight rebound, which ended at 2794 US dollars / ton, compared with the previous day rose 14 US dollars / ton, fluctuations in the range of 2815.5 ~ 2760 US dollars / ton. Yesterday, the US Department of Commerce announced a seasonal increase in new home sales in September, followed by a growth of 3.5% to 12.060 million units, and set a record high in history. Prior to this, economists estimated that the value fell to 1.15 million units. At the same time, the Chilean El Abra copper miner will vote on whether to strike, and the results will be announced at 10:30 on the 28th Beijing time, which will also affect the copper price in the short term. From the graphical point of view, the current copper price can only be determined as falling. The relay rebounded and it is likely to remain volatile in the near future. Yesterday, the domestic copper exhibited a narrow range of fluctuations. In the short term, there is strong support for the 120-day moving average. The short-term copper price may remain relatively volatile. Spot price fluctuate little yesterday, reported 29400 ~ 29500 yuan / ton. Aluminium: Affected by the rising price of copper, yesterday's LME March aluminum also showed a certain degree of rebound, strong rebound, but did not break through the resistance area. Aluminum Corporation of China announced yesterday that it will raise the spot sales price of alumina by 4.84% from the 27th, from 4130 yuan per ton to 4,330 yuan, which will make domestic aluminum direct production costs will rise 400 yuan / ton, but in the trend of yesterday This point has not yet been reflected in the price, the domestic aluminum prices in the past two days there may be compensatory growth. The domestic spot price quoted yesterday was 16130~16180 yuan/ton. Ma Hongqing: The LME copper price maintained its consolidation trend in Wednesday's trading. Although it was once encouraged by the US real estate data and the US stock market's rise in early trading, the sharp drop in crude oil prices made the bulls extremely cautious. Technically, copper prices have passed. After the sharp rise and fall, the volatility range needs to be revised. Therefore, it is more likely that the copper price will maintain the trading range in the short term, and from the end of the rising 5 wave, it is more likely to fall further after the consolidation. Expected range volatility will start at 2750/2830, corresponding to the domestic will be at 26500/27000, suggesting that investors hold short positions. Overseas express delivery: LME market report: London October 27 news: Wednesday, the London Metal Exchange (LME) most of the base metal futures prices closed higher. The benchmark three-month copper price was higher at $2815.50 throughout the day, but it was suppressed by profit-taking at the end of the day, with a slight drop from the higher point. Traders said that because of the uncertainty in the election, the metal market will have a considerable impact, so investors are cautiously wait and see attitude before the election. Analysts believe that due to strong Chinese demand, the expected decline in copper prices is limited. Another factor supporting prices comes from strikes by workers at the El Abra copper mine that may have occurred in Chile. The miner will vote on whether to strike, and the results will be announced after 10:30 on the 28th Beijing time. The miner’s spokesperson stated that if the management’s final answer cannot meet the workers’ demands, the strike may be held on November 3. The benchmark three-month nickel expanded its gains today and is expected to find resistance at USD. Both the spot and futures markets in tin have experienced tight supply, and the upward resistance is expected to be 9200 U.S. dollars. COMEX Copper Market Report: New York, October 27: News by the short covering, Wednesday's December copper on the New York Mercantile Exchange (COMEX) rose 65 points to close at 128.80 cents. It was 127.50 cents lower and 129.50 cents higher throughout the day. Traders believe that from the observation of the recent two days of the market, the downward momentum of the market's downward momentum has gradually weakened, and it is expected to continue rising in the short term under the impetus of short covering, otherwise, the transaction will remain in a sluggish state before the election. Analysts said that today's sharp drop in oil prices will support the price of copper. If oil prices fall below $50/barrel, more buying will be triggered. At the same time, the US new home sales data for September also played a boost for copper. The U.S. Department of Commerce announced that after a seasonal adjustment of new home sales in the US in September, it rose by 3.5% to 12.060 million sets, and set a record high in history. Prior to this, economists had expected the value to fall to 1.15 million units. Despite strong support at 125.30 cents, there is greater resistance at around 130 cents. December copper is expected to support 125.30 cents lower, and upward resistance is 130 cents. On the 27th, LME copper stocks fell by 300 metric tons to 80,150 metric tons. On the 26th, COMEX copper stocks fell by 202 short tons to 46,098 short tons.

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