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Overnight Shanghai aluminum opened at 16400 yuan / ton, after the opening of the bears actively pressured, aluminum prices fluctuated downward, and then the early entry bulls lack confidence have chosen to leave the market to avoid safety, Shanghai aluminum volume accelerated downward, aluminum price low once touched 16090 yuan / ton, 5-day moving average support first appeared, Shanghai aluminum low recovery repair part of the decline closed at 16165 yuan / ton, the position decreased by 9810 hands to 294842 lots, long
liquidation.
It is expected that today's Shanghai aluminum may fluctuate in a wide range of 16000~16250 yuan / ton, and the spot discount will remain at 240~200 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 16240 yuan / ton, up 460 yuan / ton from the previous day, and the discount of 180 yuan / ton compared with the contract in recent months, smelter shipments have decreased, traders actively shipped, downstream enterprises are afraid of high procurement willingness is not strong, Shanghai aluminum first suppressed and then rose, spot discount expanded, in view of the profit margin caused by the expansion of bullish spot and discount, the willingness of middlemen to receive goods increased with the rise of the market, the overall transaction is mainly concentrated in traders, it is difficult to digest aluminum ingot inventory
.
In terms of news, the strong rebound of aluminum for two consecutive days has given market confidence, the willingness of middlemen to receive goods continues to increase, and trading between traders is very active, but the downstream performance is still more wait-and-see, there is a fear of heights, the procurement action is not very positive, and the overall performance of the Guangdong market is more active
.
On the whole, supply-side reform continues to boost aluminum prices, but short-term Shanghai aluminum may have a pullback, and it is expected that the main force of Shanghai aluminum will fluctuate within the day, with an operating range of 16000-16500
.
