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Overnight Shanghai aluminum 1710 contract opened at 14850 yuan / ton, the early day aluminum price narrow range above the daily moving average, quickly touched 14930 yuan / ton after rapid down, the low touched 14770 yuan / ton, a small number of bears at the low level to flee, aluminum prices back to the daily moving average, long and short game under the Shanghai aluminum close to the daily average lower along the narrow range, closed at 14835 yuan / ton, the position increased by 8368 hands to 248022 lots, it is expected that today's Shanghai aluminum 1710 contract shock running at 14760 ~ 14900 yuan / ton, spot discount expanded to 190~150 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 14190 yuan / ton, down 40 yuan / ton from the previous day, and the discount of 465 yuan / ton compared with the near-month contract, the shipping attitude of the holders was slightly tightened, the middlemen received goods relatively actively, the downstream enterprises were limited in high-temperature production, the purchase volume was limited, and the overall transaction was slightly better than yesterday, mainly from the contribution
of traders.
In terms of news, yesterday it was rumored that Shandong Weiqiao would stop production capacity of 2.
6 million tons in October, and aluminum prices soared
.
After investigation, it is the same as the previous news of capacity reduction, and Wei Qiao pointed out that the output will not be greatly affected, and whether it can be landed will be further observed, from the previous experience, the rumors and the actual situation are far from the same, but the market has only paid attention to rumors recently
.
In terms of spot, traders began to enter after the basis was raised again, but the downstream was afraid of high aluminum prices and the transaction was poor
.
Aluminum prices continue to fluctuate
under pressure at high levels.
