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On Monday morning, Shanghai aluminum opened at 13820 yuan / ton, slightly down at the beginning of the session, aluminum prices around 13800 yuan / ton narrow range, then bulls tried to enter, Shanghai aluminum rose back to the daily average of 13825 yuan / ton above the line to finish, before the afternoon bear pressure, Shanghai aluminum down, afternoon long-short interaction exit under the Shanghai aluminum wide range oscillation, the center of gravity of the transaction has shifted down, the low touched 13710 yuan / ton, closed at 13755 yuan / ton
.
Lun aluminum performance is strong, domestic spot Monday also showed active buying gradually improved, pay attention to the momentum of bears to move back, short-term is expected that Shanghai aluminum is still based on building a bottom to maintain stability and momentum, it is difficult to get rid of the range shock situation
for the time being.
In terms of external trading, Lun aluminum opened at 1885.
5 US dollars / ton in the morning, dragged down by domestic Shanghai aluminum after the opening, Lun aluminum fell slightly, touched 1877 US dollars / ton at the low of the Asian session, and rose slightly to the daily average of 1881 US dollars / ton
at the end of the session.
Entering the European trading session, base metals led by the rebound of crude oil base metals generally rose, Lun aluminum successively broke through the 5/10 daily moving average resistance, once touched 1899 US dollars / ton, as of 18:03 Lun aluminum 1896.
5 US dollars / ton, it is expected that the trend of Lun aluminum will continue to be strong, pay attention to the pressure of the 1900 US dollars / ton integer mark
.
In terms of the market, aluminum futures fluctuated
in a narrow range around the daily moving average that month.
Shanghai transaction concentration is 13520-13540 yuan / ton, the discount for the month is 220-180 yuan / ton, Wuxi transaction concentration is 13520-13530 yuan / ton, Hangzhou transaction concentration is 13540-13560 yuan / ton
.
Holders stable shipments, aluminum futures stabilized, middlemen in addition to receiving goods for the downstream, while appropriately replenishing inventory, downstream enterprise orders increased, and spot prices stabilized, active buying willingness increased, the overall transaction gradually warmed, and the price did not change much
during the afternoon trading session.
In the late afternoon, aluminum fluctuated downward, the wind and clouds changed, the market wait-and-see mood rose again, the inquiry was less, the transaction was few, and the transaction price was 13480-13510 yuan / ton
.
In terms of inventory, the latest released data show that as of February 27, the total social aluminum inventory in the five places in the country was 982,000 tons, an increase of 29,000 tons from last Thursday, of which South China inventory increased
significantly.
As the inventory of consumption continues to rise, the aluminum spot discount remains at a high level of 200 yuan / ton, and aluminum prices continue to come under pressure
.
On the plate, Shanghai aluminum continues to fluctuate in a volatile pattern, but the center of gravity of operation may continue to move down, and maintain the idea
of shorting at high prices in the medium term.
