Brief review of the aluminum market on August 16

On Thursday, Shanghai aluminum opened at 14195 yuan / ton
in the morning.
Before noon, Shanghai aluminum mainly fluctuated in a narrow range, mainly for long positions to increase positions and high long profits to close positions, and the low touched 14175 yuan / ton
.
In the afternoon, the bulls continued to increase their positions and wanted to continue to rise, touching 14315 yuan / ton at the open, and immediately encountered the resistance of short positions increase, and quickly fell back to around
14200 yuan / ton.
Subsequently, Shanghai aluminum continued to maintain range volatility, and the end of the session was short and profit-taking, and Shanghai aluminum closed at 14200 yuan / ton
.

South China South China aluminum ingot quotation 14130-14230 yuan, the average price of 14180 yuan, up 20 yuan, the current month premium of 10 yuan, the premium is stable, large households into the market to purchase value, the market source wants to be stable, the downstream remains flat, trading is dominated by major traders, the mainstream transaction price is concentrated between 14170-14230 yuan, compared with the average price of South China - 10~50 yuan
.

Nanchu East China aluminum ingot quotation 14170-14210 yuan, the average price of 14190 yuan, up 40
.
Yangtze River: 14170-14210, 14190 up 40
.
Holders are actively shipping, the market circulation is abundant, aluminum prices rose in the early afternoon, spot quotations followed upward, and the overall transaction was average
.
The transaction was mainly concentrated between 14180-14210 yuan, which was -10~20 yuan higher than the average price of South China East China
.

As the market once again rumors of production cuts caused by a typhoon on an electrolytic aluminum enterprise in Shandong, the specific affected production capacity is still uncertain, and the failure of Shanghai aluminum rush to high remains a strong shock
.