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Today's Shanghai aluminum shock is weak, as of the close of 3 pm, the main 2106 contract of Shanghai aluminum closed down at 18480, down 45, or 0.
24%.
Funds have driven the overall strength of nonferrous metals, and the fundamentals are lackluster
.
After the destocking of aluminum ingots exceeded 40,000 tons for two consecutive weeks, the destocking slowed down this week, the spot maintained a slight discount, and the high price of aluminum affected the willingness to purchase
downstream.
At present, Shanghai aluminum has reached the high point of 2011, and the bulls have a strong momentum, but will usher in the Fed interest rate meeting and many economic data releases in the near future, it is recommended to stay on the sidelines
before the holiday.
Recently, the Federal Reserve once again publicized that monetary policy will continue, and reiterated that inflation is only temporary, to a certain extent, reducing the market's bullish enthusiasm, aluminum prices under pressure pullback, but for now, domestic demand gradually rising under the high trend of aluminum prices has been difficult to stop, and the capital has not completely left the market, short-term Shanghai aluminum continues to fluctuate at a high level, the main focus on 1.
83-18,600 range fluctuations, the operation of a small amount of on-demand replenishment upstream and downstream, it is expected that tomorrow's spot aluminum shock is strong
.
