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On Tuesday, base metals mostly oscillated higher, and bearish sentiment fell slightly, indicating that long and short positions were cut out
.
Shanghai aluminum performance was weak, the main contract 1811 opened low and went low, trading at 14690-14570 yuan / ton during the day, and closing at 14610 yuan / ton at the end, down 0.
41%
on the day.
In terms of external trading, as of 15:49 Beijing time, 3-month Lun aluminum was reported at 2041 US dollars / ton, down 0.
17% on the day, and the upper rebound resistance focused on 2100 US dollars / ton
.
In terms of spot, Shanghai spot aluminum trading concentrated 14540-14550 yuan / ton, the discount for the month 50-30 yuan / ton, Wuxi transaction concentration 14540-14550 yuan / ton, Hangzhou transaction concentration 14550-14570 yuan / ton
.
The shipment attitude of the holders maintained a high degree of positivity, the overall market circulation of excess supply, the middlemen cautiously waited and watched, mainly for the downstream to receive goods, the first day after the holiday back downstream enterprises although there is a demand for stocking, but still wait and see, the overall transaction shows oversupply, spot stickers have signs of
expansion.
In terms of news, the Asian dollar index fluctuated in a narrow range around 94.
2, and the market is currently focused on this week's Fed interest rate meeting, with a probability of raising interest rates of more than
90%.
In terms of industry, on September 25, SMM statistics on domestic electrolytic aluminum consumption aluminum ingot inventory (including SHFE warehouse receipt): the total consumption of aluminum ingot inventory was 1.
606 million tons, down 17,000 tons
from last Thursday.
Overall, Shanghai aluminum is under pressure to decline, the performance is much weaker than other base metals, because the early performance of Shanghai aluminum is relatively resistant, so its technical rebound space is not as good as copper and zinc, and the market expects the United States is expected to relax sanctions against Rusal, so aluminum prices are weak
.
Operationally, it is recommended that the Shanghai aluminum 1811 contract can be sold high and low between 14500-14650 yuan / ton, and the stop loss is 100 yuan / ton
each.
