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On Monday, base metals were mixed, signaling weaker aluminum prices and attracting some short funds to enter
.
Among them, Shanghai aluminum volatility weakened, trading at 13865-13970 yuan / ton during the day, and closing at 13895 yuan / ton at the end of the day, down 0.
14%
on the day.
In the external market, as of 15:24 Beijing time, the three-month Lun aluminum was reported at 1980 US dollars / ton, down 0.
33% on the day, and the lower support level focused on 1950 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated in 13840-13860 yuan / ton, the discount of 30-20 yuan / ton for the month, the transaction concentration of Wuxi was 13840-13860 yuan / ton, and the transaction concentration of Hangzhou was 13860-13880 yuan / ton
.
Intraday aluminum fluctuates greatly, opening high and going low
.
In the early stage, the middleman traded actively, the transaction price was high, but in the second trading stage, the aluminum price began to decline, the transaction price declined, the middleman due to poor value preservation of the willingness to receive the goods converged, the downstream is basically on-demand procurement, the overall transaction within the day is acceptable
.
On the news, the Asian dollar index fluctuated widely, now trading around 96.
429, as the release of the US non-farm payrolls population data for October exceeded expectations, which will support the Fed's interest rate hike again in December, making the dollar index possible
to strengthen further.
In terms of industries, data released by the US Department of Commerce showed that US unprocessed unalloyed aluminum imports were 132,727,033 kg in September, up from 112,538,579 kg
in August.
The U.
S.
Department of Commerce also announced that U.
S.
aluminum exports in September were 6,046,710 kg, up from 4,607,034 kg in August, and U.
S.
aluminum imports and exports increased again month-on-month in September
.
In the spot market, although traders have the willingness to buy and sell the period, it is difficult to have a price reduction space and also constrain the atmosphere of trade speculation, and the supply and demand sides will continue to show a tug-of-war in
the short term.
On the technical side, the futures price is weak, and the overall pressure is still under the moving average combination, and the market may still have a low point
in the future.
Operationally, it is recommended that the Shanghai-aluminum 1901 contract intervene in short orders around 13950 yuan / ton, and the stop loss refers to 14050 yuan / ton
.
