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On Friday, the main 1910 contract of Shanghai aluminum opened at 14265 yuan / ton in the morning, and the short short left the market first after the opening, superimposed on some long positions to increase positions, the price rose slightly to 14300 yuan / ton, and then both long and short sides mainly reduced their positions, and the long and short positions increased before noon, and the lowest price fell to 14240 yuan / ton; In the afternoon, the bears took profits at a low level, the plate was able to rebound, back to the moving average group, the highest touched 14315 yuan / ton, the end of the day bulls again withdrew some of the funds, the price correction closed at 14285 yuan / ton, the main price of Shanghai aluminum fell 55 yuan / ton on the day, down 0.
38%.
In terms of external trading, the opening price of the Lun aluminum March contract in the morning was $1769, opening slightly higher, but after the opening of Shanghai aluminum and Shanghai aluminum resonance declined, the low probed at 1764 US dollars / ton, slightly higher than the previous day's low, the afternoon low rebounded, the European trading session after the opening continued to rise, as of 18:00 Beijing time selling price of 1771 US dollars / ton
.
LME aluminum ingot stocks decreased by 6,150 tonnes during the day, of which Klang stocks fell by 3,750 tonnes, the largest
decline.
This week's market circulation spot is tight, holders are more optimistic about the future market, generally reluctant to sell at a high price, the amount of shipments to a large account is not as much as last week, spot premium near the weekend has also increased, although the middleman has a strong willingness to receive goods, but due to the firm quotation of the holder, the actual transaction performance is deadlocked, the market has been performing more and less for several consecutive days, but on the whole, the buyer and seller inquiry is more active
.
The downstream is still more afraid of heights this week, holding a wait-and-see attitude towards high prices in the early stage, and the enthusiasm for receiving goods is not high, and the aluminum price is close to Friday, superimposed on its own stock demand, and the willingness to purchase has improved
.
In the short term, the reduction of electrolytic aluminum operating capacity in Shandong and Xinjiang has basically been digested, the new production capacity reduction in Sichuan and the production capacity in Guangxi are similar in scale, the new changes on the supply side are not much, the accumulation of inventory this week weakens the confidence of bulls, and the main contract of Shanghai aluminum will remain strong and volatile
.
