A brief review of the aluminum market on September 7

On Friday, the Shanghai aluminum main 1910 contract opened at 14365 yuan / ton in the morning, after the opening of short-term long funds poured in, increased more than 4,000 hands of Shanghai aluminum rushed to 14430 yuan / ton, and then immediately left the market with insufficient confidence from the long position, Shanghai aluminum quickly fell from the high, and the hourly line returned to near the 5-day moving average; In the afternoon, the opening was short and flat, and Shanghai aluminum continued to pullback, finally closing at 14395 yuan / ton
.
The trend of Shanghai aluminum rose first and then declined, but it still showed a high volatility pattern, and electrolytic aluminum continued to destocking to give market confidence, while the pressure on the supply side of electrolytic aluminum has not yet been highlighted; On the macro side, the central bank announced in the afternoon that it would cut the deposit reserves of financial institutions by 0.
5 percentage points, and it is expected that Shanghai aluminum may fluctuate higher, running at 14350-14500 yuan / ton
.

South China South China aluminum ingot quotation of 14420-14520 yuan, the average price of 14470 yuan, up 20 yuan, the monthly premium of 80 yuan, the base price rose sharply, downstream wait-and-see less mining, the demand side is weak, traders are willing to sell, premium continues to narrow, market performance supply is more and less demand, the mainstream transaction price is concentrated between 14450-14490 yuan, compared with the average price of South China South China premium -20~20 yuan
.

Nanchu East China aluminum ingot quotation 14390-14430 yuan, the average price of 14410 yuan, up 20
.
Yangtze River: 14400-14440, 14420 up 20
.
The enthusiasm of the holders to ship is stable, the market circulation is still abundant, and the middlemen's attitude of receiving goods has improved, and the overall transaction is acceptable
.
The transaction was mainly concentrated between 14410-14430 yuan, which was 0~20 yuan higher than the average price of South China East China
.