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On Tuesday, the main 1706 contract of Shanghai aluminum opened in the morning to continue the overnight rebound, opened slightly lower and then pulled up to a maximum of 14380 yuan, after which the aluminum price fell under pressure, fell below the average price line of 14250 yuan after the price rebounded again until the noon close, the afternoon opening after the price soared, once rose to 14460 yuan, but then increased the pressure to fall, the rise returned to the level of the noon open, closing at 14375 yuan, up 110 yuan, or 0.
77%.
Index holdings decreased by 18,726 lots to 706,000 lots, and trading volume shrank to 472,000 lots
.
In terms of the external market, the LME aluminum March contract rushed back down, opened low at $1946, the price fluctuated lower, to the low of $1945 after the price pulled, straight up to $1952.
5 in the afternoon, and then the rise fell slightly back to the flat price of $1950, and the price rose again in the afternoon, rising to a maximum of $1957, but then fell sharply under pressure, fell below the morning low to $1945, and finally closed in Asia at $1948.
5, down $1.
5, or -0.
08%
。
Spot market, spot market mainstream trading hours trading transaction picked up, morning prices rose slightly, the market has bullish expectations for aluminum prices, holders continue to ship at high prices, downstream also bargain purchase actively, the overall transaction situation is warming up, the market as a whole buys up and does not buy down
.
In the afternoon, price futures rose sharply, downstream willingness to receive goods began to turn lower, and the pressure on holders to ship increased
.
In terms of inventory, the intraday commodity market showed signs of stabilization, and the aluminum market also stopped falling and stabilized
after repeatedly bottoming out.
At present, the market fundamentals are still weak, as of this Monday, the total national electrolytic aluminum inventory was 1.
205 million tons, up 02,000 tons from last Thursday; the total inventory of 6063 aluminum rods in the main market of the country was 107,500 tons, and the overall comprehensive inventory data continued to grow
.
At present, the storm of environmental protection supervision has once again blown, and the policy side provides impetus and support
for the market.
On the technical side, the main KDJ dead cross of Shanghai aluminum but the J line turns up, MACD golden cross but the opening narrows, not too long when the upper bottom is consolidated, indicating that the lower 14100 yuan support is strong, the bears are weakened, but the pressure of 14500 yuan above is still large, and the short-term aluminum price will stand firm at the 5-day moving average of 14300 yuan and rely on the moving average system to operate
.
It is expected that the current price spread will continue to maintain a large discount, and tomorrow's quotation may rise to around
14150 yuan / ton.
