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On Thursday, the main 1707 contract of Shanghai aluminum opened lower in the morning, once falling to 13925 yuan, and then rebounded slightly, but the price was still frustrated lower before the afternoon, and the aluminum price rebounded twice to 13960 yuan in the afternoon, the lowest fell to 13905 yuan, and closed at 13930 yuan, down 100 yuan, down -0.
71%.
Index holdings decreased by 1,494 lots to 651,000 lots, and trading volume shrank to 257,000 lots
.
In terms of external trading, the LME aluminum March contract opened as low as $1924.
5, slightly higher to $1927.
5, and then the price fluctuated lower to $1914.
5, and the price once fluctuated in a narrow range in the afternoon, and suddenly dipped down near the Asian market close, closing at the lowest point of $1906, down $22, or -1.
16%.
The market is negative, the mainstream trading hours of the spot market trading time is general, general, near the weekend, aluminum prices slightly lower attracted the downstream part of the replenishment demand, shipments have improved compared with the previous day, but the transaction situation is still general
.
After the price dropped, the holders still held the price
.
In the afternoon, aluminum prices continued to fall, making the market wait-and-see sentiment stronger
.
In terms of news, the US presidential leak continued to ferment, peripheral rectification risks hit market confidence, non-ferrous metals came under collective pressure at the end of the day, and the decline in oil prices also dragged the market down
.
Although the aluminum market was affected by the good news, the current divergence between long and short, the market's risk aversion appetite has heated up, or limited the rebound
of aluminum prices.
On the technical side, the main KDJ golden cross of Shanghai aluminum but the J line turned down, MACD dead cross and green column attenuation, intraday test the 5-day moving average 13900 yuan support, but the current price is suppressed by the neckline, short-term there is still downward momentum
.
It is expected that the short-term current price spread will continue to maintain a large discount, and the quotation may fall to the level
of 13700 yuan / ton.
