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On Wednesday, the main force of Shanghai aluminum opened at 14235 yuan / ton in the morning, the bears actively pressured at the beginning of the session, the aluminum price slightly downward low touched 14205 yuan / ton line, and then the bulls gradually took advantage, pushing up the high of aluminum prices to touch 14280 yuan / ton, Zheng coal plunged sharply in the afternoon, early entry bulls risk-off exit, aluminum prices quickly fell back, the 5-day moving average overlapped 14200 yuan / ton The line showed strong support, and the Shanghai aluminum shock closed at 14215 yuan / ton
.
At present, it seems that the pace of aluminum companies under policy pressure to reduce production may not stop, and it is expected that aluminum prices will remain range-bound in the short term, or still have upward momentum
.
In terms of external trading, Lun aluminum opened at 1900.
5 US dollars / ton in the morning, and the Asian market before the afternoon London aluminum shock upward touched 1905 US dollars / ton, dragged down by the domestic market in the afternoon, Lun aluminum quickly leaked pierced the 1900 US dollars / ton integer mark, the low touched 1893 US dollars / ton, the 20-day moving average support showed again, aluminum prices repaired above the 1900 US dollars / ton mark, as of 16:46 Lun aluminum was reported at 1902.
5 US dollars / ton, pay attention to the United States EIA crude oil inventory changes last week and the continuous competition for the integer mark
。
In terms of the market, aluminum futures fluctuated
around 14,050 yuan / ton before noon of the month.
Shanghai transaction concentration is 13950-13970 yuan / ton, the discount for the month is 100-90 yuan / ton, Wuxi transaction concentration is 13950-13970 yuan / ton, Hangzhou transaction concentration is 13970-13980 yuan / ton
.
Holders of stable shipments, close to delivery, spot discount will shrink, middlemen do futures spot arbitrage, the willingness to receive goods is higher than the previous day, downstream enterprises are afraid of high procurement willingness to decline from the previous day, the overall transaction is slightly worse than yesterday, mainly concentrated in speculative transactions
.
In the late afternoon, aluminum opened high and low in the month, and the market traded 13960-13970 yuan / ton
.
On the news front, the dollar fell against a basket of major currencies on Tuesday after the eldest son of US President Donald Trump made public an email chain showing that Russia supported his father's campaign
ahead of last year's U.
S.
election.
Oil prices climbed more than 1 percent on Tuesday, strengthening along with heating oil futures as reports showed lower U.
S.
crude production estimates and lower
inventories of European refined products.
Spot gold rose on Tuesday, shaking off a nearly four-month low hit the day before as falling stocks drove safe-haven selling and the dollar retreated
.
Traders await US Federal Reserve Chair Janet Yellen's speech later this week and any signals
from central banks to tighten monetary policy.
LME three-month aluminium closed up 0.
2 percent at $
1,900 a tonne.
Intraday Shanghai aluminum main force 1709 contract volatility higher, the end of the market closed at 14215, the price in the 14000 line of consolidation after the higher, momentum, short-term to rise, rebound to see around 14500, light position long ideas mainly
.
