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On Friday, the main contract of Shanghai aluminum opened at 14730 yuan / ton in the morning, after the opening of the multi-flat into the market led by the aluminum price shock downward, the low touched 14610 yuan / ton, the afternoon trading activity is low, the low range of aluminum price narrow shock closed at 14625 yuan / ton, the downstream stocking market is nearing the end, although the rain and snow weather affects some transportation, but considering the current large inventory pressure, the fundamentals have further weakening expectations, aluminum prices are difficult to say strong, while considering the low ratio driven by the anti-arbitrage funds, Shanghai aluminum is slightly more resistant to falls than Lun aluminum
.
In terms of the external market, in the morning, Lun aluminum opened at 2231 US dollars / ton, the Asian session narrow range fluctuated between the 5/10 daily moving average, the trend was relatively light, but as the dollar continued to fall, after entering the European trading session, the metal rose collectively, Lun aluminum broke through the 5-day moving average resistance touched 2248 US dollars / ton, as of 17:41, Lun aluminum reported 2244.
5 US dollars / ton, the recent dollar accelerated to leak, but overall Lun aluminum did not come out of the strong market, coupled with the 20-day line turned down, KDJ and MACD indicators are relatively weak, with the continued participation of anti-arbitrage funds, it is expected that next week Lun aluminum or will continue to test the support of various moving averages, weak running at 2185~2255 US dollars / ton
.
In terms of the market, the Shanghai transaction concentration was 14440-14460 yuan / ton in the afternoon, the discount for the month was 120-110 yuan / ton, the Wuxi transaction concentration was 14440-14460 yuan / ton, and the Hangzhou transaction concentration was 14500-14510 yuan / ton
.
The spot discount is small, the cargo holder has a positive attitude towards shipment, there is no large account to receive goods, the trader receipt market has turned light, downstream enterprises purchase on demand, the rhythm of Spring Festival stocking has been suspended, and the overall transaction has fallen
compared with yesterday.
In the late afternoon, aluminum fluctuated in the month, and the market traded 14440-14460 yuan / ton
.
Keep the discount of 120-110 yuan / ton
for the month.
On the whole, inventory pressure continued to increase, and the market stocking gradually completed, demand weakened, so that aluminum prices weakened, intraday Shanghai aluminum shock weak, the main 1803 contract closed down 0.
75% to 14625, down 110 from the previous trading day, technically, Shanghai aluminum has not got rid of the weak market, short-term is expected to maintain a volatile market, Shanghai aluminum continues to test the 14500 mark support; It is expected that aluminum prices will be weak next Monday
.
