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On Tuesday, the main 1909 contract of Shanghai aluminum opened at 13825 yuan / ton
in the morning.
After the opening, the bulls briefly increased their positions in Shanghai aluminum touched 13835 yuan / ton, and the bears entered after the high was blocked, and the first trading stage of Shanghai aluminum maintained a narrow range around the 20-day moving average in the afternoon
.
After entering the second trading session, the bears again took the initiative to enter the market to suppress aluminum prices, Shanghai aluminum shock downward, quickly fell below the 20-day moving average, Shanghai aluminum continued to be weak in the afternoon, bulls left the market to make aluminum prices continue to weaken, the end of the session part of the short profit take, aluminum price shock closed at 13750 yuan / ton, closed at the lowest point
of the day.
In terms of external trading, Lun aluminum opened at 1816 US dollars / ton
in the morning.
During the Asian session, Lun aluminum quickly broke through the 20-day moving average high to touch 1827 US dollars / ton, trying to repair some of yesterday's decline
.
However, in the case of the strengthening of the US index, Lun aluminum quickly fell back to smooth the intraday gains and maintained a narrow range of volatility, as of 15:00 Lun aluminum was reported at 1820 US dollars / ton
.
After entering the European session, the US index continued to maintain a strong trend, Lun aluminum fell to a low of 1809.
5 US dollars / ton, as of 16:54 Lun aluminum reported 1811.
5 US dollars / ton
.
After the failure of the upward rush of Lun Aluminum, the bulls obviously lacked confidence, coupled with the strengthening of the US index, Lun Aluminum continued to fall
within the day.
In the spot market, aluminum futures opened the month mainly with range volatility, and the second trading stage sank
slightly.
In the morning, the trading price of Shanghai and Xi was between 13790-13800 yuan / ton, and the discount of 10 yuan / ton - flat water in the current month was near the price of the previous day, and the transaction price of the second trading stage was concentrated around 13780-13790 yuan / ton, but the later transaction activity was not as good as in the morning, and the transaction price of aluminum ingots in Hangzhou was between
13790-13810 yuan / ton 。 In the morning, a large household maintained the rhythm of receiving goods in East China, and the shippers shipped fairly, because the price fell back and the middlemen and traders received the goods very actively, and the buyers and sellers traded actively, but the transaction price was relatively deadlocked, and the fluctuation range was small
.
Due to the decline in aluminum prices, downstream goods are acceptable, but the purchase volume has not increased
significantly because there has been some replenishment on the previous day.
In the late afternoon, the aluminum shock sank, and although the carrier quoted around 13,770 yuan / ton, the flat water of the month, but there was almost no transaction
.
The fundamentals of Shanghai aluminum have not changed, short-term consumption has weakened, and the cost decline is empty, while the medium-term expectation of good consumption is still there, and Shanghai aluminum remains weak and volatile
.
Coupled with the recent significant correction of London aluminum, Shanghai aluminum gradually returned to fundamentals, and the price showed a correction
.
