Brief review of the aluminum market on October 23

On Tuesday, the main 1912 contract of Shanghai aluminum opened at 13775 yuan / ton
in the morning.
After the opening, due to yesterday's sharp fall in Shanghai aluminum, the opening low touched 13755 yuan / ton after a short long entry, Shanghai aluminum prices slowly rose, after the bears saw the trend to profit to close the position, Shanghai aluminum continued to move up, to the afternoon above Shanghai aluminum broke through the 5/10 daily moving average high touched 13830 yuan / ton
.
The late high led to a short profit exit, closing at 13795 yuan / ton
.

Nanchu South China aluminum ingot quotation 13810-13910 yuan, the average price of 13860 yuan, down 60 yuan, the monthly premium of 15 yuan, the mainstream of the holder's shipment, the inventory is high squeeze premium, the trader receiving atmosphere is general, the overall performance of spot transactions is flat
.
The mainstream transaction price is concentrated between 13850-1387 yuan, which is -10~10 yuan
higher than the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 13910-13950 yuan, the average price of 13930 yuan, down 30
.
Yangtze River: 13900-13940, 13920 down 50
.
During the second trading session, the shipment attitude of the holders converged significantly, the market circulation of goods decreased, and the overall transaction in East China was acceptable
.
The spot transaction price is concentrated in 13910-13940 yuan, which is -20~10 yuan higher than the average price of South Reserve East China
.

At present, Shanghai aluminum is still facing the contradiction between current consumption and long-term cost reduction and increased supply pressure, and it is expected that the long-short game of Shanghai aluminum will intensify, and the center of gravity of Shanghai aluminum will move up slightly, and the shock runs near
the 5/10 moving average.