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On Monday, the main contract of Shanghai aluminum 2004 opened at 13300 yuan / ton
in the morning.
At the open, Shanghai aluminum dived to 13185 yuan / ton, and after the long and short mutual reduction, Shanghai aluminum shock downward low touched 13165 yuan / ton
.
The low led to the entry of bulls, the cargo aluminum continued to rebound, and the short profit left the market in the afternoon, and the Shanghai aluminum shock closed at 13255 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1687 US dollars / ton
in the morning.
During the Asian session, Lun aluminum rebounded
quickly after opening at 1684 US dollars / ton.
By noon, Lun aluminum turned red and returned to more than
$1,700.
In the afternoon, Lun aluminum continued to maintain a volatile upward trend, breaking through the 5/10 daily moving average barrier one after another, and as of 15:00, Lun aluminum was reported at 1706.
5 US dollars / ton
.
During the European session, Lun aluminum remained strong, the high once touched last week's high of 1715 US dollars / ton, as of 16:38 Lun aluminum was reported at 1711 US dollars / ton
.
The dollar fell sharply during the day, overseas risk aversion subsided, metals rose, and London aluminum returned to near
last week's high.
In the spot market, aluminum maintained range-bound
volatility in the early afternoon.
Shanghai Wuxi market spot trading price concentrated between 13020-13040 yuan / ton, compared with last Friday price fell nearly 70 yuan / ton, the morning quotation when the market premium concentrated in the discount 110-100 yuan / ton, and a large household 13050 yuan / ton near part of the purchase, 10:30 late aluminum upward, spot premium began to concentrate between 130 - 120 yuan / ton, the actual transaction price slightly up, Hangzhou intraday transaction price between 13030-13050 yuan / ton
。 The number of market receivers increased significantly, but the transaction price was slightly deadlocked, and the actual transaction performance of traders and buyers was average
.
Downstream intraday on-demand purchases are mainly used, and there are no signs of
significant stocking.
The overall transaction in East China was flat
during the day.
In the late afternoon, aluminum fluctuated upward, the market performance was calm, and the shipments of holders converged, and there was almost no transaction
.
The reason for the intraday rebound was mainly due to
the weakening of overseas panic and the overall rebound of metals.
Fundamentally, on the one hand, the weekly increase in aluminum ingot inventory within the day was 53,000 tons, the previous hidden inventory continued to be released, and the pressure above Shanghai aluminum was still in line with previous expectations; on the other hand, the average cost of electrolytic aluminum has increased to 13,300 yuan / ton, and the loss continues to expand
.
On the whole, with the gradual recovery of consumption, the weekly increase in inventory has decreased, and the downward space for continued decline is relatively limited
.
