Brief review of the aluminum market on October 17

On Wednesday, the main contract of Shanghai aluminum 1912 opened at 13785 yuan / ton
in the morning.
After the opening, the low level of Shanghai aluminum touched 13770 yuan / ton, and the low level led to the entry of bulls, and the overall Shanghai aluminum maintained a shock upward trend
.
Before noon, the bears at the 5-day moving average tried to block the attack unsuccessfully and quickly fled
.
After Shanghai aluminum broke through the 5-day moving average, the bears were relatively cautious, tried to snipe again at the end of the session, and left the market again after the defeat, and the Shanghai aluminum high touched 13840 yuan / ton, closing at 13855 yuan / ton
.

Nanchu South China aluminum ingot quotation 13800-13900 yuan, the average price of 13850 yuan, up 70 yuan, the monthly premium of 10 yuan, the price difference between the two places inverted and widened, traders into the market to receive goods significantly increased, holders tend to sell, market performance is average
.
The mainstream transaction price is concentrated between 13840-13880 yuan, which is -10~30 yuan
higher than the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 13860-13900 yuan, the average price of 13880 yuan, up 120
.
Yangtze River: 13860-13900, the average price is 13880, up 110
.
Intermediaries are active in receiving goods, holders continue to sell at high prices, the market circulation is scarce, and the overall transaction is acceptable, mainly for transactions between traders
.
The spot transaction price is concentrated in 13880-13910 yuan, which is 0~30 yuan higher than the average price of South China East China
.

After the continuous decline, the market bearish sentiment was released, considering that the current consumption is still relatively stable month-on-month, electrolytic aluminum production is less than expected, the probability of destocking continues, and Shanghai aluminum recorded a certain rebound
.
However, at the same time, the downward cost of long-term electrolytic aluminum, the increase in supply and the unpredictability of consumption sustainability make the rebound height of Shanghai aluminum relatively limited, and more will maintain the range shock after the center of gravity shifts
downward.
It is recommended to add short-band operations
.