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On Monday morning, Shanghai aluminum opened at 13,710 yuan / ton, and on Friday the Republican Party canceled the vote on the Trump health care bill, the dollar fell, and gold prices were boosted
.
On Sunday, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers removed the wording of "recommending to extend the production reduction agreement for 6 months" in a statement released after the meeting, the crude oil market performed poorly during the day, the low oil price touched 47.
34 US dollars / barrel, the market atmosphere was empty, coupled with the collapse of the domestic black series, non-ferrous metals followed down, the bears pressured Shanghai aluminum shock downward during the afternoon, during the long many attempts to enter the bottom, the low of aluminum prices once touched 13545 yuan / ton, the metal market in the afternoon tends to be calm, Shanghai aluminum resistance began to appear, short short exit under the aluminum price steadily rising, at the end of the session a straight line to recover the 60-day line, closed at 13715 yuan / ton
.
In the context of the rainbow, Shanghai aluminum showed obvious resistance to the fall, but the upper 5/10 daily moving average adhesion resistance is strong, the Shanghai aluminum oscillation range is narrowing day by day, the direction may gradually become clear, pay attention to the effectiveness of
the 60-day line support.
In terms of the external market, in the morning, Lun aluminum opened at 1934 US dollars / ton, the Asian session was finally canceled due to the Trump health reform bill vote, gold rose, crude oil and other commodities have fallen, Lun aluminum trend is weak, fell below the 5-day moving average support low touched 1925 US dollars / ton, into the European trading session, Lun aluminum shock upward to recover the 5-day moving average, repair the Asian market decline, aluminum prices once touched 1934 US dollars / ton, and then fell back to the daily moving average near 17:21 Lun aluminum 1929 US dollars / ton, The evening data was light, focusing on the sustainability
of the 5-day moving average support.
In terms of the market, the center of gravity of aluminum fell before the afternoon of the month, and the short-term fluctuation range increased, the Shanghai transaction concentration was 13420-13450 yuan / ton, the discount for the month was 150-110 yuan / ton, the first trading session period aluminum fluctuated at 13590 yuan / ton, the spot transaction was at a high level, the discount for the month was about 150 yuan / ton, the second trading session, the aluminum fell to 13530 yuan / ton, violent repeated fluctuations, the spot was not adjusted, and the discount for the month narrowed to about 110 yuan / ton.
Wuxi transaction concentration is 13410-13430 yuan / ton, Hangzhou transaction concentration is 13460-13480 yuan / ton
.
The short-term fluctuation range of the plate is large, the holder waits and sees the situation of the plate, the shipment attitude is not positive, the plate fluctuates, the trend is not clear, the middleman cautious mood breeds, the downstream enterprise inventory is sufficient, in this case, the first wait and see cautious procurement, the overall transaction due to the supply and demand are wait-and-see and cautious pattern
.
In the late afternoon, the recovery of aluminum in the month fluctuated around 13570 yuan / ton, and the quotation of Shanghai holders remained stable at 13430-13440 yuan / ton, and a small number of transactions were made
.
In terms of inventory, the latest data from Shanghai Nonferrous Metal Network shows that as of March 27, the total social aluminum inventory in the five places in the country was 1.
126 million tons, down 13,000 tons from last Thursday; aluminum stocks decreased slightly, confirming that consumption improved, while driving the narrowing of spot discounts, and aluminum prices were supported
.
On the plate, Shanghai aluminum stabilized after receiving support from 13,500 below, and aluminum prices may continue to fluctuate, with the main fluctuation range of 1.
35-14,000
.