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On Wednesday, non-ferrous metals are out of the first rise and then suppress the market, Shanghai aluminum is no exception, in the morning Shanghai aluminum 1804 contract opened at yuan / ton, the beginning of the short cover driven by aluminum price performance is strong, once touched 14365 yuan / ton, but the 5-day moving average still shows strong resistance, aluminum prices under pressure to fall, and then the trend is relatively light, narrow range shock closed at 14290 yuan / ton, Shanghai aluminum 1803 contract accelerated to reduce positions, it is expected that the main contract will turn to 1804 contract during the week, short-term aluminum prices or will still be weak
。
In terms of the external market, in the morning, Lun aluminum opened at 2177.
5 US dollars / ton, early in the day Lun aluminum steadily rising, successively broke through the 40/5 daily moving average resistance, but due to the limited momentum supporting the sustainability of aluminum prices, so Lun aluminum high slowly falling, into the European trading session, the dollar rebound Lun aluminum accelerated the down, the low once touched 2170 US dollars / ton, as of 18:04, Lun aluminum reported 2180.
5 US dollars / ton, the data is light, European and American stock markets out of the low back to the upward trend, it is expected that Lun aluminum continue to try to break up, But it's
more difficult.
In terms of the market, the Shanghai transaction concentration was 14060-14080 yuan / ton before the afternoon, the discount for the month was 80-60 yuan / ton, the Wuxi transaction concentration was 14040-14070 yuan / ton, and the Hangzhou transaction concentration was 14080-14100 yuan / ton
.
During the day, the shipment strength of cargo holders weakened, the spot discount narrowed compared with yesterday, the middlemen mainly delivered orders, Shanghai Wuxi downstream enterprises purchased on demand, the downstream stock volume in Hangzhou increased, and the overall transaction maintained stability
.
In the late afternoon, aluminum fluctuated in a narrow range that month, and East China traded 14050-14060 yuan / ton, and the supply and demand were
deadlocked.
It should be noted that the current low aluminum price on the one hand slows down the launch of new production capacity, on the other hand, extinguishes the enthusiasm of electrolytic aluminum enterprises closed in the heating season, so the release of the supply side has slowed down, at the same time, from the current situation, after the Spring Festival, downstream enterprise orders performance is better, destocking even has the possibility of exceeding expectations, so the medium-term expectation of aluminum prices continues to fall space is limited
.
