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On Monday, the main contract of Shanghai aluminum 1905 opened at 13500 yuan / ton
in the morning.
After the opening, the bulls took the initiative to reduce their positions, and Shanghai aluminum continued to leak low to touch 13460 yuan / ton, and the low caused short profits to leave the market, and aluminum prices rebounded to near
the 40-day moving average.
Subsequently, long and short positions increased each other, Shanghai aluminum wide range oscillation, in the afternoon non-ferrous metals mostly showed a red recovery trend, Shanghai aluminum bulls increased positions, Shanghai aluminum rebounded high touched 13535 yuan / ton, the end of the session closed at 13525 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1869 yuan / ton
in the morning.
During the Asian session, a brief dip low at the beginning of early trading touched $1863.
5 / ton
.
Then maintained a range around the daily moving average, and the dollar began to recover under pressure in the afternoon, and as of 15:00, Lun aluminum was reported at $1871 / ton
.
After entering the European session, the US dollar volatility increased, the low rebounded, Lun aluminum fluctuated widely, the high touched 1876 US dollars / ton, as of 17:43 Lun aluminum was reported at 1870.
5 US dollars / ton
.
In terms of the market, aluminum is mainly
range-bound before the afternoon.
Chalco received nearly 5,000 tons of goods in East China, the market spot is sufficient, and the holders are actively shipping, but the shippers are mostly quoted at 13610 yuan / ton, and the receivers mostly accept the price of 13600 yuan / ton, the two sides are slightly deadlocked, but it does not affect the overall transaction activity of the market
.
The downstream procurement is normal on demand during the day, and there is not much bright
spot overall.
In the late afternoon, aluminum rose, and the upward speed was faster
.
Shanghai transaction price between 13620 ~ 13640 yuan / ton, because the period of aluminum rise is too fast, the market wait-and-see sentiment is strong, in fact, only traders have a partial transaction, downstream goods are almost nothing
.
Upcoming U.
S.
retail sales data for January, expectations are poor, the U.
S.
index is expected to weaken further, and a slight rebound in aluminum continues to repair some of the losses
.
During the day, the inventory of aluminum ingots fell by 9,000 tons, and the transaction in East China was acceptable, consumption continued to recover, and aluminum prices rebounded
slightly.
It is expected that as bulls' confidence increases, Shanghai aluminum may test the 20-day moving average
.
