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Shanghai aluminum opened at 13715 yuan / ton in the morning on Wednesday, the beginning of the session continued the previous day's running trajectory to maintain range fluctuations, because did not show an upward trend, the end of the first trading stage, bears began to test the market, aluminum prices fell below all moving averages, the low touched around 13680 yuan / ton to stabilize, and then the low returned, slightly rebounded to 13715 yuan / ton after continuing to maintain range volatility, and finally closed at 13710 yuan / ton, down 15 yuan / ton, down 0.
11%.
In terms of the external market, Lun aluminum opened at 1720 US dollars / ton in the morning, the Asian session maintained a slow upward climbing posture, but the driving force below was insufficient, the high stopped at 1724 US dollars / ton, the Asian market turned its head down at the end of the market and began to go all the way down, the low fell to around 1715 US dollars / ton after stabilizing, and began to wander around 1717 US dollars / ton in a narrow range, as of 17:25 Lun aluminum closed at 1716 US dollars / ton, down 5 US dollars / ton, down 0.
29%, closed at the small black line
.
In terms of the market, aluminum fell before noon in the month
.
The mainstream spot trading price in Shanghai and Wuxi market is concentrated between 13590-13610 yuan / ton, which is about 10 yuan / ton higher than the previous day, the spot premium discount is between 90 ~ 80 yuan / ton, and the mainstream transaction price in Hangzhou is between
13600-13620 yuan / ton.
Intraday holders shipped actively, traders received goods more actively, near the early afternoon aluminum downward, holders quotations also slightly lower, buyers and sellers traded fairly, the market before noon is mainly the buyer's market
.
In addition, some traders have reported that existing plate, strip, foil and alloy ingot cooperative manufacturers have begun to stock up, and although the amount received is not much, it has improved significantly compared with previous days
.
The overall intraday transaction in East China is average
.
In the late afternoon, aluminum maintained range fluctuations, and the price of holders was 13600-13610 yuan / ton, and the discount on the plate was around 90 yuan / ton, and only a small number of transactions were made between traders
.
At present, it seems that most downstream enterprises have chosen to delay the resumption of work due to safety considerations, and consumption is still suppressed, paying close attention to the downstream resumption of
work.
In the short term, the accumulation of stocks continues to pressure aluminum prices, but after looking forward to downstream recovery, aluminum prices have a large upside, and it is recommended to bargain with a long order
.
