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On Monday, the main 2005 contract of Shanghai aluminum opened in the morning to meet the short position increase of more than 8,000 lots, diving at 13,000 yuan / ton, recorded a long lower shadow small white line, the low touched 12870 yuan / ton, then opened low and went low, all the way down, in the afternoon bears increased their positions again by more than 3,000 lots, aluminum prices fell to 12,830 yuan / ton intraday low, refreshing the lowest point since mid-January 2017, some bears at the low level of confidence fell bags for An to reduce positions and leave the market, aluminum prices rebounded slightly at a low level, but the upper pressure 40-day moving average, The final upward path stopped at 12930 yuan / ton, and the performance hovered at the end of the day, closing at 12890 yuan / ton
within the day.
In terms of the external market, Lun aluminum jumped in the morning at 1678 US dollars / ton, the Asian session slowly declined, the Asian market at the end of the 1662 US dollars / ton a narrow range of shock, into the European trading session after Lun aluminum leaked again, stepped down the ladder straight down to 1644 US dollars / ton intraday low, refreshing the lowest point since October 2016, as of 16:30, Lun aluminum low seems to have a return posture, closing at 1652 US dollars / ton
.
In terms of the market, aluminum range volatility in the early afternoon was dominant
.
In the morning, Shanghai Wuxi market holders quoted around 12840 yuan / ton, opposite the surface discount 40 yuan / ton nearby, but the morning market wait-and-see sentiment is strong, the actual transaction is not much, after 10:15 Shanghai Wuxi and Hangzhou market prices concentrated between 12810-12830 yuan / ton, the opposite plate discount 30-10 yuan / ton, because the market bearish sentiment is obvious, although the later holder actively shipped, but the actual transaction is slightly light, buyers and sellers trading generally
.
Downstream intraday on-demand procurement is the mainstay, the wait-and-see mood is also strong, and the actual replenishment is not much
.
The overall intraday transaction in East China was poor
.
In the late afternoon, aluminum maintained range fluctuations, and the quotation of the holder fluctuated greatly, between 12760-12800 yuan / ton, and the transaction was very rare
near the flat water of the opposite plate.
Under the background of the overall bearish macro atmosphere, it is expected that aluminum prices will be difficult to go against the trend and maintain weak operation
in the short term.
Due to the escalation of the impact of the epidemic and the release of crude oil and other commodities, the macro trading sentiment of the US stock and foreign futures markets is bearish, and the metal is green across the board, and it is expected that short-term aluminum prices will remain weak and the upside is limited
.
