Brief comment on the aluminum market on October 31

On Wednesday, the Shanghai aluminum main 1912 contract opened at 13840 yuan / ton in the morning, and the Shanghai aluminum line around 13835 yuan / ton during the day, fluctuating up and down in the range of 30 yuan / ton price difference, the trend was relatively stable
.
Shanghai aluminum opened in the morning to meet some short positions increase, testing down 13810 yuan / ton intraday low, then slowly rising hindered at a high of 13855 yuan / ton, and closing at 13845 yuan / ton at the end of the session, up 70 yuan / ton, up 0.
51%.

Nanchu South China aluminum ingot quotation 13850-13950 yuan, the average price of 13900 yuan, up 50 yuan, for the flat water of the month, the base price is high, the market oversupply, the pressure of the premium continues to narrow, the overall transaction is flat
.
The mainstream transaction price is concentrated between 13890-13900 yuan, which is -10~0 yuan
higher than the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 13980-14020 yuan, the average price of 14000 yuan, up 60
.
Yangtze River: 13980-14020, 14000 up 50
.
Holders continued to ship at high prices, while receivers hesitated about high-priced goods, and the transaction was slightly
deadlocked.
The spot transaction price is concentrated in 13985-14000 yuan, which is -15~0 yuan higher than the average price of South China East China
.

Aluminum prices have recently performed sideways, the overall volatility is not large, long and short positions have been many games, the low level of short confidence is insufficient, can recover most of the previous day's decline, is expected to continue to maintain range volatility, waiting for the release of supply and demand related news and market-led trading atmosphere changes to give clear guidance
to the market.