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Aluminum market review, Tuesday Shanghai aluminum main force 1905 contract opened at 13770 yuan / ton in the morning, after the opening of a part of the short profit exit, the plate slightly pulled back to 13795 yuan / ton is the high of the day, long and short forces test each other, a wave of bulls first to escape, the lowest test to 13730 yuan / ton, then the bears gradually left the market, the price based on the 20-day moving average narrow range shock; In the afternoon, the market was dominated by bulls, and the closing price was 13,770 yuan / ton, down 100 yuan / ton from the previous trading day, or 0.
72%.
Shanghai spot aluminum ingots were quoted 13730-13770 yuan / ton within the day, with an average price of 13750 yuan / ton, up 10 yuan / ton from the previous trading day, and a discount of 30 yuan / ton - 10 yuan / ton
for the 1904 contract.
Shanghai aluminum opened low and went low overnight, with a daily decline of about
30~40 yuan / ton.
Holders have a high enthusiasm for shipments, most of the April contracts are concentrated on sticking 20 ~ flat water shipments, large households in the East China market receive a large number of goods, downstream on-demand procurement, intraday market transactions are more active
.
During the day, the main force of Shanghai aluminum gave up 2/3 of the previous day's gains, and the position was greatly reduced, and both long and short sides took to reduce positions and hedge risks; However, in the context of marginal improvement in consumption, aluminum prices have little room to fall, and it is expected that it will still fluctuate upward
after the correction.
