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Aluminum market review, Shanghai aluminum main force opened at 13780 yuan / ton in the morning, a wave of bears fled at the beginning of the session, the price rebounded slightly, the price stood at 13810 yuan / ton, bulls waited for the opportunity to leave, the price hit back around 13780 yuan / ton, the morning was mainly sideways adjustment; In the afternoon, the price first fell and then rose, the first half of the long position reduction superimposed on the short position, the price once fell to 13760 yuan / ton, the second half of the short profit exit, the closing price was around 13810 yuan / ton, up 5 yuan / ton
from the previous trading day.
The decline in electrolytic aluminum inventories slowed down, the market lacked actual benefits, Shanghai aluminum continued to fluctuate in the market, the main 1905 contract fluctuated in a narrow range around the 13,800 mark during the session, and closed at 13810 at the end of the day, down 10, or 0.
07%; Electrolytic aluminum cost end alumina, anode carbon and other raw materials remain weak, the aluminum price rebound to form greater pressure, short-term Shanghai aluminum is difficult to get rid of the shock market, the main force in 13,800 or repeated; pay attention to the Sino-US trade negotiations and the upcoming
hearing results of the resumption of production of the Hydro Alunorte alumina plant on Friday.
It is expected that tomorrow's spot aluminum will not fluctuate much, or rise slightly by 0-50 yuan
.