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Thursday's Shanghai aluminum main 1911 contract opened at 14190 yuan / ton in the morning, after the opening of the long position reduction Shanghai aluminum continued to decline, then the center of gravity of the short position reduction plate moved slightly up, the afternoon opening bulls continued to close the position and leave the market, closing almost at the lowest point of the day, and finally closed at 14135 yuan / ton, down 80 yuan / ton, down 0.
56%.
In terms of external disk, Lun aluminum opened at 1791 US dollars / ton
.
During the Asian session, Lun aluminum rose and fell with greater volatility, and the daily moving average fell under pressure in the morning, with the lowest test reaching 1783 US dollars / ton; In the afternoon, based on the daily moving average rebound was hindered at 1792 US dollars / ton, European session, the US index fell smoothly, boosting Lun aluminum to rise further, Lun aluminum climbed 1797 US dollars, as of 17:05 at 1790 US dollars / ton, the upper 5-day moving average and 60-day moving average adhesion formed pressure, intraday Lun aluminum affected by the US index trend, following the external base metals up, testing whether it can break through the integer pressure
of $1800.
In terms of the market, aluminum futures maintained a narrow range fluctuation before noon of the month, and almost sideways after 10:30
.
The spot quotation in Shanghai Wuxi market is between 14260-14270 yuan / ton, the opposite plate premium is between 20-40 yuan / ton, the spot price is basically down 70 yuan / ton from the previous day, and the spot price in Hangzhou is between
14280-14300 yuan / ton.
Shanghai and tin cargo shipments have converged compared with the previous two days, quotations are firm, middlemen actively receive goods at low prices, but they are willing to accept that the price is difficult to reach an agreement with the holders, the transaction between buyers and sellers is slightly deadlocked, and aluminum performance in the early afternoon is running sideways, and the spot transaction spread is narrow and difficult to widen
.
Downstream manufacturers mainly purchase on demand, and the enthusiasm for receiving goods is not as good as the previous two days
.
In the late afternoon, the aluminum shock sank slightly, the holder's quotation was between 14260-14270 yuan / ton, and the premium of the plate was between 20-40 yuan / ton, the afternoon market was light, and there were few actual transactions
.
After entering September, new production capacity including Mengtai, Meixin, and Ascend will be accelerated under the drive of high profits; In terms of demand, peak season demand gradually recovered, but has not yet seen the performance beyond expectations, September 19 electrolytic aluminum spot inventory of 966,000 tons, compared with September 12 down 06,000 tons, inventory decline slowed down, with the supply side capacity release superimposed alumina prices gradually under pressure, the medium-term short selling idea remains unchanged, but environmental protection policies or aluminum prices have some support, the operation of the early short order can be bargained out of the market
.
