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Today's Shanghai aluminum 2008 contract opened at 14250 yuan / ton in the morning, the opening price continued the downward trend of night trading, recording a low of 14185 yuan / ton at about 10:10 in the afternoon, and some of the short profits reduced their positions, and the aluminum period pulled back
slightly.
Aluminum gave up some of its gains in the midday period, mainly
in sideways volatility.
In the afternoon half an hour, the bulls increased their positions by more than 165 lots, and the price of aluminum reached a high of 14285 yuan / ton in the day, and then some bulls reduced their positions and left the market, and the aluminum release a downward signal, and some bears hastily reduced their positions at the end of the session, and the aluminum futures closed at a white line, and the closing price recorded 14245 yuan / ton
.
Overall, the long and short game in the past two days has been more intense, and the price of Shanghai aluminum has maintained a sideways trend
.
From a fundamental point of view, low inventory and tight supply still give electrolytic aluminum price support logic unchanged, the current aluminum price support level to around 14,000 yuan / ton, the downside space is limited
.
It is expected that the evening aluminum price will continue the current sideways volatility
.
Electrolytic aluminum stocks increased by 4,000 tons from last Thursday to 712,000 tons
.
Overnight, Lun aluminum fluctuated slightly to close the doji, opening higher today at the 5-day moving average of $
1665.
Shanghai aluminum overnight trading rushed back down to close the doji, Shanghai aluminum inventory rose on Monday, there is uncertainty
on the domestic spot side.
Shanghai aluminum trading positions are declining, and market sentiment tends to wait and see
.
The follow-up spot gradually entered the off-season, and the spot situation was closely paid attention to in the later stage, and the current price risk was high
.
Shanghai aluminum upper pressure 14860, lower support 13500
.
