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On Friday evening, the main contract of Shanghai aluminum opened at 16180 yuan / ton, some of the early entry bulls at the beginning of the session have chosen to drop the bag for safety, one after another, aluminum prices under pressure passively down to 15980 yuan / ton, at this time 16000 yuan / ton integer mark support again, aluminum prices low back up, but near the daily average of 16120 yuan / ton suffered strong resistance, the shock closed at 16110 yuan / ton, the position decreased by 2288 hands to 443916 lots, the exit of the early entry bulls is still a potential bearish factor, It is expected that today's Shanghai aluminum main contract weak shock at 16000~16150 yuan / ton, continue to test the 5-day moving average support, close to delivery, it is expected that the spot discount narrowed to 170~130 yuan / ton
.
In terms of the market, on the day, the spot price of A00# aluminum was 15870 yuan / ton, up 1380 yuan / ton from the previous week, and the discount was 30 yuan / ton compared with the near-month contract, Shanghai aluminum rose rapidly, the spot was difficult to follow, the discount expanded to about 200 yuan / ton, downstream fear of heights and subject to the decline in orders seriously few buying, intra-week trading concentrated on the arbitrage demand of middlemen, delivery at the beginning of this week, it is expected that the discount before delivery narrowed to around 100 yuan, and the discount continued to fall back to around
200 yuan / ton after delivery.
In terms of news, last Friday, the downstream did not show the stock mood that should be at the weekend, the transaction was still concentrated in the intermediary transaction, and the situation in Guangdong continued to deteriorate month-on-month throughout the week, mainly because downstream orders continued to decline
.
On the whole, supply-side reform continues to boost aluminum prices, and it is expected that the main force of Shanghai aluminum will fluctuate at a high level within the day, with an operating range of 15800-16300
.
FYI
.
