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On Tuesday, the price of the main 1708 contract of Shanghai aluminum fluctuated all the way up, and the price rose sharply in the afternoon under the stimulation of the news, breaking through to 14030 yuan, and then the high of aluminum prices fell slightly, closing at 13995 yuan, up 290 yuan, or 2.
12%.
Index holdings decreased by 5,610 lots to 532,000 lots, and the trading volume slightly enlarged to 449,000 lots
.
In terms of external trading, the LME aluminum March contract opened at $1888.
5, fluctuated in a narrow range in the morning, and the price rose straight in the afternoon, the highest rose to $1910, and then the high volatility fell back, closing at $1900.
5, up $11.
5, or 0.
61%.
In terms of the market, the mainstream trading hours of the spot market trading time to cool down, the market supply is still sufficient, the holders have adjusted the price of shipments, with the rise is slightly weak, the previous positive downstream merchants have a certain fear of heights, the willingness to receive goods is reduced, the afternoon aluminum price soared after the holder to make profits shipments is also difficult to stimulate the market, trading is obviously lighter
than yesterday.
In terms of news, Xinjiang introduced a supervision plan for illegal production capacity, supply-side reform heated up again, in addition, market rumors that Weiqiao reduced production capacity by 250,000 tons of electrolytic aluminum before Friday, boosting the aluminum market, and the recent news of removing illegal production capacity in China was intensively introduced, which also proved that Shanghai aluminum is prone to rise and fall in the near future, and it is expected that the aluminum market will hit the 14,000 yuan integer mark at a high level
.
On the technical side, Shanghai aluminum main KDJ golden cross, MACD golden cross, the price broke through the BOLL middle track, back above the half-year line, short-term prices above the 60 moving average and 14,000 yuan integer mark pressure, or will be at a high level of slight pressure to fall back to finish, quotation or rise to above
13850 yuan / ton.
