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Market review, base metals were mixed on Friday, showing that aluminum prices were volatile, and long and short trading was cautious
.
Among them, Shanghai aluminum fluctuated widely, trading at 14065-14195 yuan / ton within the day, and closing at 14145 yuan / ton at the end of the day, down 0.
07%
on the day.
In terms of external trading, as of 15:35 Beijing time, the three-month Lun aluminum was reported at 2015.
5 US dollars / ton, up 0.
37% on the day, and the upper pressure was concerned about 2300 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated at 14050-14080 yuan / ton, the discount for the month was 90-70 yuan / ton, the transaction concentration in Wuxi was 14050-14080 yuan / ton, and the transaction concentration in Hangzhou was 14060-14090 yuan / ton
.
In the morning, due to the decline of aluminum in the future, the willingness of shippers was general, and the aluminum price picked up slightly in the later period, and the downstream took a wait-and-see attitude towards the price, and the overall transaction was flat
.
On the news front, the Asian dollar index was volatile and now trading around 96.
044, due to hawkish comments in the Fed minutes, all members agreed that the September rate hike was reasonable and would be further gradual, which greatly stimulated the strong trend
of the dollar index.
In terms of industries, China's primary aluminum (electrolytic aluminum) output in September was 2.
79 million tons, up 7.
1% year-on-year; Primary aluminum production from January to September was 25 million mt, up 4.
2%
from a year earlier.
During the day, Shanghai aluminum fluctuated widely, and the overall aluminum price in the spot market recovered slightly from the previous day, but the downstream took a wait-and-see attitude towards the price, and the overall transaction was flat
.
On the technical side, the intraday rebound of futures prices is blocked, and the overall pressure is still under the combination of moving averages, and it is expected that aluminum prices will be difficult to change the shock pattern
in the short term.
Operationally, it is recommended that the Shanghai-aluminum 1812 contract can consider selling high and low between 14,000-14,300 yuan / ton, and stop loss 100 yuan / ton
.
