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On Wednesday, base metals generally fell, indicating that aluminum prices continued to fall, and long and short trading was cautious
.
Among them, Shanghai aluminum continued to fall, trading at 13930-14130 yuan / ton during the day, and closing at 13960 yuan / ton at the end, down 1.
13%
on the day.
In terms of external trading, as of 15:29 Beijing time, the three-month Lun aluminum was reported at 1966.
5 US dollars / ton, up 0.
08% on the day, and the lower support level focused on 1950 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated in 13930-13990 yuan / ton, the discount for the month was 50-30 yuan / ton, Wuxi was concentrated 13930-13990 yuan / ton, and Hangzhou was concentrated 14010-14020 yuan / ton
.
Intraday aluminum fluctuates greatly, and after the range shock, it begins to fall sharply, causing confusion in the market transaction price, and the quotation difference between them is large
.
The main transaction price in the first trading stage is concentrated between 13980-13990 yuan / ton, and the aluminum fell too fast in the opening stage of the second trading stage, and the transaction price is concentrated between 13930-13980 yuan / ton, and there are even quotations of 13910 yuan / ton
when the aluminum falls to the lowest point.
Because the price fell too fast, the downstream began to take a wait-and-see attitude towards the price, and the market was dominated by middlemen, traders showed willingness to hold the price, and the overall transaction was not as good as the previous day
.
In terms of news, the Asian dollar index fluctuated at a high and is now trading around 96.
959, due to the weakness of European currencies, while the US consumer confidence data is very strong, boosting the confidence of the dollar market, and the dollar index is strong
again.
In terms of industries, Eurozone GDP in the third quarter was 0.
2% quarter-on-quarter, the lowest growth rate since 2014, expected to be 0.
4%, and 0.
4%
in the previous month.
Eurozone GDP in the third quarter was 1.
7% year-on-year preliminary and expected 1.
8% and 2.
1%
previously.
Eurozone growth in the third quarter was markedly slower than expected as signs of a crisis in Italy, the eurozone's third-largest economy, continued to deteriorate
.
Shanghai aluminum continued to decline during the day, as the US dollar index continued to rise and broke through the 97 mark, and base metal prices generally continued to be weak
.
In the spot market, because the price fell too fast, the downstream began to take a wait-and-see attitude towards the price, and the market was dominated by middlemen
.
Operationally, it is recommended that the Shanghai aluminum 1812 contract can choose the opportunity to short around 14050 yuan / ton, and the stop loss refers to 14150 yuan / ton
.
