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Overnight Shanghai aluminum opened at 14400 yuan / ton, the beginning of the session bears tried to enter, Shanghai aluminum slightly retraced low touched 14350 yuan / ton, then the short flat more into the aluminum price shock rose to 14450 yuan / ton, at the end of the session Shanghai aluminum around the opening position narrow range, finally closed at 14415 yuan / ton, the position increased by 2518 hands to 312,000 lots
.
Stimulated by no new policy news, the short-term Shanghai aluminum range shock view is maintained, and it is expected that the main operating range of Shanghai aluminum today is 14300~14500 yuan / ton, pay attention to the first-line resistance of 14500 yuan / ton, and the spot discount is 170~130 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 14200 yuan / ton, up 80 yuan / ton from the previous day, and the discount of the near-month contract was 100 yuan / ton, Shanghai aluminum fluctuated at a high level, and the willingness of holders to ship goods was positive, after Shanghai aluminum rebounded, traders were willing to receive goods positively, causing holders to raise prices to sell, after Shanghai aluminum repeated shocks, holders closely followed the quotation, traders received goods willingness to converge, May Day holiday is coming, downstream enterprises are stable procurement, and the overall transaction is more active
.
Although the expectation of de-capacity is still strong, the current reduction of production by relevant aluminum companies is extremely limited, and the market still has a wait-and-see attitude towards policy implementation, coupled with the lack of bright spots in the current consumption season, inventories remain high, resulting in poor upward movement in aluminum prices
.
Rising prices require further documentation and implementation support for production
cuts.
Operationally, it is recommended to maintain the idea
of pullback buying.
