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Today's aluminum main shock after the low point
.
After the morning open, it fluctuated all the way down to the intraday low of 13555 yuan, and rebounded to the average price line around 13670 yuan before noon, and then suppressed all the way by the average price line, oscillating
downward.
It closed at 13,575 yuan, down 185 yuan, or -1.
34%.
The position decreased by 15,874 lots to 190,000 lots, and the trading volume shrank to 183,000 lots
.
Today, Lun aluminum was lower
after the shock.
It opened at $1870, then rushed to $1874.
5 and then came under pressure, once rushed to $1873 in the afternoon, and the price fell sharply to $1865 before closing
.
As of the Asian market closing at $1865, down $7, or -0.
37%.
Market: Today's Shanghai Nonferrous Metals Trading Center (SME) spot aluminum mainly traded at 13470-13510 yuan / ton in the morning, down 60 yuan / ton from Wednesday, while the premium narrowed to c110-c70
.
The spot aluminum index of the Shanghai Nonferrous Metals Exchange Center was at 13491.
45 points, down 60 points
from the previous session.
Today's East China market supply continues to be sufficient, the morning rebound holders are reluctant to sell at high prices, but later due to inventory pressure and futures price decline, holders continue to increase shipments, downstream bargaining on demand replenishment, procurement remains positive, afternoon price changes are less, and the overall transaction remains active
.
News: Today's inflation data was significantly lower than expected, CPI broke one and PPI reached a high, while yesterday's US small non-farm payrolls data exceeded expectations to make the US dollar interest rate hike almost a foregone conclusion, so non-ferrous metals generally fell under pressure
.
There are still substantial changes on the supply and demand side, and high inventories continue to suppress the rebound
in aluminum prices.
Technically, the main force of Shanghai aluminum KDJ continues to maintain the dead fork, MACD dead fork opens downward again, the main force of Shanghai aluminum is broken downward at the neckline position of the head and shoulders, the head characteristics are obvious, and the downward pressure of the 5 and 10-day moving averages makes the technical surface has been occupied
by the bears.
It is expected that there will be a low point in the later stage of aluminum prices, and short-term support will be around the 60-day moving average of 13450 yuan
.
It is expected that tomorrow's spot aluminum price will continue to fall below
13500 yuan / ton.
