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On Monday, the main 08 contract of Shanghai aluminum opened at 14270 yuan / ton in the morning, and the long position reduction released a downward signal within 10 minutes of the opening, and then the bears took advantage of the trend to increase their positions, and the aluminum price fell to the low of 14185 yuan / ton
in the day.
After that, some bears took profits and left the market, and the price of Shanghai aluminum reached a daily high of 14335 yuan / ton
within half an hour.
After reaching a high level, Shanghai aluminum began to oscillate downward, and again reached a low of 14185 yuan / ton
at about 11:25 noon.
In the afternoon five minutes, the short position reduced about 40 lots, and the aluminum price rebounded to recover part of the decline, and the aluminum price in the later period fluctuated in a narrow range downward, and closed at 14230 yuan / ton
at the end of the session.
In terms of external trading, Lun aluminum opened at 1665.
5 US dollars / ton
in the morning.
During the Asian session, Shanghai aluminum fluctuated downward after the opening and fell to a low of $1657 / ton at about 10:45 in the afternoon, and then ushered in a wave of rebound to touch a high of $1665 / ton
.
Unexpectedly, the upside space of Lun aluminum was limited in the afternoon, and in the afternoon, Lun aluminum immediately welcomed a wave of downward leakage again, and as of about 15:00, Lun aluminum fell back to the low level of the day, recording 1655.
5 US dollars / ton
.
During the European session, the dollar index fell all the way, and Lun aluminum ushered in a strong rebound, as of 16:52 Lun aluminum tentatively reported 1663.
5 US dollars / ton
.
The overall price trend is dominated by wide oscillations, the amplitude is around $10 / ton, the daily K temporarily closed at a small white line, the center of gravity fell below the 10-day moving average, the KDJ line opened upward, and it is expected that the aluminum in the night period will continue to maintain a strong shock trend
.
It is necessary to continue to pay attention to the impact of the epidemic abroad and the overall flow of
funds in the capital market.
The period aluminum noon range oscillation is dominant
.
In the morning, the spot price of aluminum ingots in Wuxi area is between 14500-14510 yuan / ton, Shanghai area is between 14490-14500 yuan / ton, the premium is around 260 yuan / ton, there are many inquirers at the beginning of the morning opening, with the market transaction heat gradually rising, the market price is gradually clear, because of the high premium case of the holder's shipment enthusiasm is significantly improved, the intraday market circulation spot is obviously looser than last week, and the circulation brand is richer than last week.
The price of tin and tin began to be concentrated between 14470-14490 yuan / ton and 14490-14510 yuan / ton, and the later premium fell slightly, concentrated between 220-260 yuan / ton, a large household announced a small amount of purchase plan within the day, traders and buyers and sellers traded
fairly.
Downstream intraday on-demand purchases are the mainstay, as prices rose from last Friday, and in the case of some stockpiling last week, intraday buying enthusiasm did not increase
.
The overall transaction in East China was flat
during the day.
In the late afternoon, aluminum maintained a narrow range of fluctuations, and the price of holders was between 14470-14490 yuan / ton, and the premium of the plate was between 230-250 yuan / ton, only a small number of transactions between trades, and almost nothing
downstream.
From a fundamental point of view, the current warehouse receipt inventory is at a low level, spot supply is tight and other factors still give aluminum prices some support, futures aluminum prices recorded two consecutive Yang, re-tend to fundamental rationality, it is expected that in the short term aluminum prices are still strong volatility trend, and spot prices drive futures price logic unchanged
.
In the future
, we need to continue to pay attention to changes in fundamental demand and capital market flows.
