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On Friday, the Shanghai aluminum 1711 contract opened slightly lower at 16655 yuan / ton, a small number of bulls continued to enter at the beginning of the session to push up aluminum prices slightly higher than 16700 yuan / ton, followed by black and colored early entry bulls to open the scale exit operation, Shanghai aluminum pressure rapid down, 5-day moving average superimposed at 16500 yuan / ton to find support, after testing a moment of smooth fall to continue the downward, closed at 16310 yuan / ton, the position decreased by 7958 hands to 356804 lots, The Shanghai Aluminum Index position decreased by 19,842 lots to 988444 lots
.
In the short term, it is expected that the space for Shanghai aluminum pullback is relatively limited, and today's Shanghai aluminum 1711 contract fluctuates widely at 16150~16450 yuan / ton, and the spot discount is 220~180 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 16240 yuan / ton, up 250 yuan / ton from the previous week, and the discount of 285 yuan / ton compared with the near-month contract, the aluminum price fluctuated sharply during the week, environmental protection shut down a large number of small and medium-sized processing plants, the downstream buying was not strong, the transaction was still concentrated in trader arbitrage transactions, and the weekly spot discount was concentrated at 200-180 yuan / ton
.
In terms of news, the current market consumption is still not improving, high aluminum has played a certain restraining role, inventory to maintain a rising trend, this situation is difficult to change
in the short term.
The de-capacity policy is about to usher in the implementation node, and aluminum companies that have not completed the production reduction requirements may be forced to reduce production
.
The expectation of rising costs due to production restrictions in the heating season and environmental protection policies is still an important factor affecting investor sentiment, supporting the medium-term price increase trend
.
Market regulatory factors coupled with rapid price increases also have adjustment needs, and aluminum prices or oscillations have a slight correction in
the short term.
Operationally maintain the pullback buying idea
.
