Brief review of the aluminum market on October 18

The main contract of Shanghai aluminum 1912 opened at 13820 yuan / ton in the morning, above the 5-day moving average
.
After the opening, the bulls increased their positions and entered, and the Shanghai aluminum shock upward quickly broke through the 10-day moving average, and the high touched 13870 yuan / ton
.
The high led to short positions to increase their positions to enter, the rise of Shanghai aluminum narrowed, and some bulls took profits at the end of the session, and Shanghai aluminum closed at 13855 yuan / ton
.

The price of South China aluminum ingots in South China is 13910-14010 yuan, the average price is 13960 yuan, up 40 yuan, the premium for the month is 30 yuan, the absolute price rise is weak, the supply is moderately loose, traders arbitrage into the market to stimulate demand, a small amount of replenishment downstream on weekends, the overall trading is
acceptable.
The mainstream transaction price is concentrated between 13960-13970 yuan, which is 0~10 yuan
higher than the average price of South China Reserve.

The price of South Reserve East China aluminum ingots was 13990-14030 yuan, with an average price of 14010 yuan, up 50
.
Yangtze River: 13990-14030, 14010 up 50
.
The shipment attitude of the holders improved, the market circulation of goods increased, the receiver entered the market to receive the goods at a low price, and the overall transaction was still deadlocked
.
The spot trading price is concentrated in 14000-14030 yuan, which is -10~20 yuan higher than the average price of South China East China
.

During the day, the inventory of social aluminum ingots fell by 61,000 tons week-on-week, in line with the market's expectation that consumption would remain stable, and Shanghai aluminum recorded three consecutive sunshine
.
The electrolytic aluminum market is facing the contradiction between the recent stable consumption and the pressure of long-term supply increase and cost downward movement, and the space above the rebound is relatively limited, and it is recommended to increase short-term band operations
.