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On Tuesday, the main 1708 contract of Shanghai aluminum resisted the decline slightly after the open, slightly higher to around 14100 yuan after pressure, after which the aluminum price fell back to 14005 yuan, in the afternoon narrow fluctuation, as of the close of 14040 yuan, down 10 yuan, down -0.
07%.
Index holdings increased by 6,064 lots to 538,000 lots, and trading volume shrank to 249,000 lots
.
In the external market, the LME aluminum March contract opened slightly higher at $1928.
5, and then the price fluctuated back, maintaining a narrow range throughout the day, falling as low as $1920 during the session, and closing at $1925, down $2, or -0.
10%.
In terms of the market, the mainstream trading hours of the spot market trading hours are general, intraday spot aluminum prices rose slightly in the morning and the premium is firm, holders actively ship, but the downstream demand is still not ideal, fear of heights continues, after the price decline upstream small concession has not been able to stimulate the market trading situation, middlemen low prices to maintain value and receive goods, the overall transaction is not good
.
In terms of news, the intraday black long position reduction put collective pressure on the market, but the metal performance resisted the decline, on the one hand, the total leader zinc prices continued to be high, on the other hand, the overall improvement of the Sino-US manufacturing index showed that the economic development prospects were promising
.
In addition, Xinjiang again spread the news of production cuts, and the supply-side reform of the electrolytic aluminum industry was carried out in an orderly manner, which made aluminum prices strongly supported
.
Technically, the main KDJ golden cross of Shanghai aluminum but the high passivation, MACD golden cross, short-term attention to the support of the integer mark of 14,000 yuan, quotation or slightly fell back to around
13,800 yuan / ton.
