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Aluminum market review, Thursday's Shanghai aluminum main 1905 contract opened at 13600 yuan / ton
.
After the opening, it maintained a narrow range around the 5-day moving average, and touched 13600 yuan / ton
at a high level.
Subsequently, the bears increased their positions, and some of the long positions chased high in the early stage closed and left the market, and the Shanghai aluminum shock downward pierced the 20/40 daily moving average below, closing at 13505 yuan / ton
at the end of the session.
Nanchu South China aluminum ingot quotation 13570-13670 yuan, the average price of 13620 yuan, down 90, the month discount of 30 yuan, downstream bargain into the market procurement, the price of the two places is inverted, the receipt of goods is significantly better than the previous day, supply and demand trading is relatively active
.
The mainstream transaction price is concentrated between 13600-13620 yuan, which is -20~0 yuan
higher than the average price of South China.
Nanchu East China aluminum ingot quotation 13600-13640 yuan, the average price of 13620 yuan, down 80
.
Cargo holders maintained positive shipments but quotations were slightly firm, the market circulation was very abundant, and the receivers entered the market to inquire about low-priced sources, and the overall transaction was average
.
The transaction price is between 13610-13620 yuan, which is a premium of -10~0 yuan
compared with the average price of South Reserve East China.
During the two sessions, due to the problem of reducing the determination of VAT, the confidence of the bulls was insufficient, and the long positions in the early chasing were closed and exited, resulting in a slight decline in aluminum prices
.
In addition, the cost downward movement, and the recovery of downstream consumption is still expected, except for the decline in VAT, aluminum prices have not yet shown a clear direction
.
Continue to pay attention to the two sessions and pay attention to downstream consumption stimulus policies
.
Shanghai Aluminum is expected to try to repair some of the decline.
