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Overnight Lun aluminum opened at 16165 yuan / ton, the early apron continued the daily atmosphere, actively entered to pressure the aluminum price down to touch 15950 yuan / ton, but because the black series was affected by the China Steel Association issued a strong rise, Shanghai aluminum bulls were inspired to actively enter the market to push up aluminum prices all the way, the high touched 16275 yuan / ton, the end of the early entry bulls chose to drop the bag for safety, Shanghai aluminum gave up part of the rise to close at 16150 yuan / ton, the position increased by 9552 hands to 453598 lots
。 At present, it seems that although a small number of bears have begun to try to enter, the characteristics of Shanghai aluminum are still strong, pay attention to the trend of surrounding varieties, it is expected that the main shock of Shanghai aluminum will run at 16000~16250 yuan / ton, and the spot discount will remain at 220~180 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 15870 yuan / ton, up 120 yuan / ton from the previous day, and the discount was 30 yuan / ton compared with the near-month contract, the basis narrowed, the middleman had almost no arbitrage space, the willingness to receive goods was not strong, the downstream was still afraid of heights, coupled with poor orders, so there were few procurement actions, and the overall transaction was relatively light
.
On the news front, Shanghai aluminum extended gains earlier on Thursday, hitting its highest point since 2012, as investors bought aggressively on the expectation that China's production cuts would reduce supply
.
Analysts said reforms such as the shutdown of China's steel and aluminum industries helped drive metal prices higher, but there were broader factors behind the rally
.
The simultaneous growth of the global economy for most of the year, the resilience of China's real estate cycle and a weaker dollar have also given investors reason
to participate.
