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On Friday, the main 2001 contract of Shanghai aluminum opened at 13890 yuan / ton in the morning, after the opening of the long position to reduce the position and leave the market, after the bulls bought at a low place, the market briefly rebounded, but the bulls were not confident enough, followed by the net outflow of bulls, unilateral decline, the bottom touched 13835 yuan / ton, a small number of short profits at the end of the session, and finally closed at 13840 yuan / ton
.
Aluminum fell back before noon in the month
.
Shanghai and Wuxi market spot quotation concentrated between 14050-14070 yuan / ton, compared with yesterday's price down around 60 yuan / ton, the opposite plate premium 40-50 yuan / ton, spot premium compared with yesterday also slightly lower, Hangzhou spot price transaction concentrated between 14100-14110 yuan / ton, Hangzhou holders in the hands of the supply is not much, the quotation is relatively firm
。 Traders in Guangdong and Xi are more active, but after 11:00, the transaction heat has fallen, the market atmosphere has gradually calmed down, and the willingness of downstream manufacturers to receive goods today has increased significantly compared with the previous two days, mainly due to the recognition of today's falling prices, coupled with the demand for stocking on weekends
.
East China has a better overall transaction today
.
Stocks: LME stocks increased to 1.
27 million tons, down 25,000 tons to 245,800 tons in the previous period, and social banks fell 12,000 tons to 674,000 tons
.
Expectations for Sino-US trade talks have reversed again, and market sentiment has deteriorated
.
As far as supply and demand are concerned, consumption has entered the off-season, and the supply pressure of electrolytic aluminum itself is expected to remain, and the aluminum price shock is weak
.
During the day, Shanghai aluminum fell below the 13900 support level, and the buying below lacked momentum, and the bears took profits one after another, but the amount of liquidation was small, and the price support was weak
.
At present, the capital is once again rushing to run the fundamentals, and the aluminum price is expected to fluctuate next Monday, and it is expected to run between
13800~13900 yuan / ton.
