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On Tuesday, the main contract of Shanghai aluminum opened at 14310 yuan / ton
in the morning.
The opening of Shanghai aluminum has been above all moving averages, after the opening of the bulls took the initiative to enter the market to pull up aluminum prices, bears saw the situation to leave the market and flee, Shanghai aluminum once touched 14360 yuan / ton, before the afternoon Shanghai aluminum maintained a high level of volatility, afternoon bulls profit exit, Shanghai aluminum gave up intraday gains to close at 14305 yuan / ton, showing a doji.
In terms of external disk, Lun aluminum opened at 1749 US dollars / ton
in the morning.
During the Asian session, Lun aluminum around the 5-day moving average in a narrow range, touched the intraday high of 1755 US dollars / ton before noon, as of 15:00, Lun aluminum reported 1747.
5 US dollars / ton
.
After entering the European session, Lun aluminum quickly dived, the shock downward low once touched 1736.
5 US dollars / ton, from the recent low of 1734 US dollars / ton only 2.
5 US dollars / ton, as of 17:41, Lun aluminum reported 1741 US dollars / ton
.
In the spot market, aluminum futures rose in the morning of the month and maintained high volatility
before noon.
In the morning, the transaction price of Shanghai Wuxi market was between 14380-14390 yuan / ton, and the opposite plate premium was between 40-50 yuan / ton, which was nearly 50 yuan / ton higher than last Friday, and the spot price in Hangzhou was between
14390-14410 yuan / ton 。 During the day, a large household normal purchase of close to 10,000 tons, because of the high price of aluminum, the holder actively shipped, but the middleman and downstream are afraid of heights, the price is not well recognized, the receipt of goods is not much, the transaction is slightly deadlocked, the spot premium after the receipt of the large household then falls, after 11:00 the transaction price began to concentrate between 14370-14380 yuan / ton, the opposite plate premium 30-40 yuan / ton, but after 11:00 the market trading activity has come to an end, so the actual transaction has not increased with the spot price fall
。 Downstream manufacturers took goods on demand, and the procurement was flat, which was not significantly better than the previous day
.
In the late afternoon, aluminum sank slightly, and a small number of holders in the market quoted between 14380-14390 yuan / ton, and the opposite plate premium was between 30-50 yuan / ton, but the market was light and rarely traded
.
The short-term fundamentals broke out the corresponding news of resumption of production and other hot market conditions made the bulls hesitate, but at the same time, the improvement of downstream consumption is gradually being verified, and the bears are afraid of this and fail to take
the initiative.
It is expected that Shanghai aluminum will remain strong and volatile, and it can still be bullish on the dip, but it is not recommended to chase higher
.
