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On Thursday, Shanghai aluminum maintained range volatility during the day, in the context of continued decline in inventories and strong spots, the bears at the low level were not confident enough, but due to the pressure on the 20/40/60 daily moving average above, it is expected to maintain a weak range in the short term, and continue to pay attention to the changes in the long and short market and changes in the market trading atmosphere
.
In terms of the external market, the Shanghai aluminum main 1912 contract opened at 13815 yuan / ton in the morning, the first trading stage maintained at 13835 yuan / ton hovering in the first line, the second trading stage some bulls reduced their positions and left the market, aluminum prices fell, falling all moving averages touched the intraday low of 13800 yuan / ton, because there was still a certain support level at the threshold, the low level at the end of the session recovered, closing at 13825 yuan / ton, up 40 yuan / ton, or 0.
29%.
The trend of intraday aluminum is relatively stable, observing the impact of macro sentiment changes and macro data such as US durable goods orders and new home sales monthly rate in September
.
In terms of the market, aluminum futures maintained a narrow range until noon in the month
.
The spot price in Shanghai is between 13980-14000 yuan / ton, the opposite plate premium is 90-110 yuan / ton, the spot quotation in Wuxi market is concentrated between 13990-14010 yuan / ton, East China spot price is up 50 yuan / ton from the previous day, the difference between the next month and the current month's ticket price is within 20 yuan / ton, the spot price of individual warehouses is around 20 yuan / ton lower than the mainstream price, and the spot price in Hangzhou is between
13990-14010 yuan / ton 。 The situation is similar to the previous day, due to the upgrade of the VAT system tomorrow, invoice-related transactions are stopped, the number of goods issued by the holders in the market is reduced, most of them are the next month's tickets, and the middlemen are still actively receiving goods, but on the whole
, the transaction between buyers and sellers is still deadlocked.
Downstream on-demand goods are mainly taken, a small amount of stocking, and the overall performance is average
.
In the near future, Shanghai aluminum will maintain a weak and narrow range fluctuation pattern, and aluminum downstream consumption has not been able to pull aluminum prices under the background of a weak macro environment
.
At present, in the short term, the aluminum market is about to enter the consumption off-season, and downstream consumption may still be biased
.
However, affected by the continued slowdown in electrolytic aluminum production capacity, the weaker demand and weaker supply before the end of the year may continue, and the operating situation is still dominated by narrow
ranges.
