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On Tuesday, the main contract of Shanghai aluminum opened at 13920 yuan / ton in the morning, and the aluminum price continued to fall during the day, the low once touched 13820 yuan / ton, closing at 13860 yuan / ton, and the Shanghai aluminum index increased its position by 52484 hands to 881480 lots, mainly short positions
.
The downward logic of aluminum prices is relatively clear, on the one hand, the market expects that the March peak season has not arrived, and inventories continue to increase; On the other hand, the cost of electrolytic aluminum moves down faster, giving bears continuous pressure momentum
.
In terms of external trading, Lun aluminum opened at 2094 US dollars / ton in the morning, the domestic aluminum price fell sharply during the Asian session, but Lun aluminum showed good resistance to falls, basically around the daily moving average oscillation, the center of gravity slightly down, into the European trading session, Lun aluminum inertia first suppressed and then rose, the low touched 2087.
5 US dollars / ton, and then touched 2107 US dollars / ton, but the 5-day moving average resistance has been expressed, as of 18:29, Lun aluminum reported 2102 US dollars / ton, continue to pay attention to changes in the domestic market, it is expected that Lun aluminum performance will continue to be stronger than Shanghai aluminum
。
In terms of the market, before the midday dive of aluminum future, the Shanghai transaction concentration was 13710-13730 yuan / ton, the discount for the month was 50-40 yuan / ton, the Wuxi transaction concentration was 13710-13730 yuan / ton, and the Hangzhou transaction concentration was 13720-13740 yuan / ton
.
Cargo holders are actively shipping, downstream enterprises are more willing to accept goods at low prices, the activity of intermediaries is stable compared with the previous day, and the overall transaction is better; After an instant dive of 100, the shipment strength of the holder weakened, the market quotation was 13630-13640, and the discount for the month was 40-30 yuan / ton, but it was close to closing, and there was almost no transaction
.
In the late afternoon, the aluminum returned to the light, the market transaction price was 13640-13700 yuan / ton, and the discount for the month was 30 yuan / ton, and the transaction was
acceptable.
At present, the average loss of electrolytic aluminum enterprises has lasted for a long time, if the aluminum price continues to fall, there is a high probability that there will be high-cost smelters choose to reduce production, and although consumption has been delayed, but will not disappear, 4 quarters to inventory is still expected, so short-term aluminum prices still have downward space, but the medium term still has the momentum
to bottom out.
