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Overnight Shanghai aluminum main company gap low opened at 14660 yuan / ton, the opening was suppressed by several waves of bears, the price fell all the way to the intraday low price of 14580 yuan / ton, due to the support below still exists, Shanghai aluminum low price rebounded to 14645 yuan / ton, and then the center of gravity sank, but the price gradually began to climb the second wave, touching the high to 14665 yuan / ton, the price fell slightly at the end of the day, closing at 14635 yuan / ton
.
Overnight, Shanghai aluminum closed at the small black line, located below the 5-day line, the trading volume decreased by 84480 lots to 99296 lots, and the position increased by 510 lots to 285,000 lots, down 55 yuan / ton, or 0.
37%.
The US dollar renewed its high again, non-ferrous metals were generally under pressure, but Shanghai aluminum still maintained an anti-fall posture, recovered part of the decline, it is expected that Shanghai aluminum will maintain a weak shock situation within the day, the price runs at 14580-14750 yuan / ton, discount 40-flat water
.
In terms of demand, yesterday's spot in Shanghai reported a discount of 30-20 yuan / ton for the current month's contract, the discount quotation remained low, and the holders continued to maintain a strong sales strategy, but the middlemen and downstream were more afraid of heights, and the overall transaction was average
.
The LME aluminum discount in March was reported at $18.
5/ton, and the discount showed a narrowing trend
.
The main logic of the current aluminum market is that the domestic bauxite and alumina production restrictions will push up the cost side of aluminum plants and then support aluminum prices, and the risk side will be high in domestic social inventory and poor consumption in the downstream off-season
.
It is expected that short-term aluminum prices will remain strong, and the long-term long idea will remain unchanged
.
