Brief review of the aluminum market on October 29

On Monday, the Shanghai aluminum main 1912 contract opened at 13850 yuan / ton in the morning, down 13810 yuan / ton at the beginning of the session, and then rose at a low level, around 13825 yuan / ton A wide range of oscillations, closing at 13825 yuan / ton
.

South China South China aluminum ingot quotation 13850-13950 yuan, the average price of 13900 yuan, down 20 yuan, the monthly premium of 5 yuan, the market circulation remained smooth, the basis weakened, traders into the market to receive goods increased, downstream just need to purchase, the overall transaction is flat
.
The mainstream transaction price is concentrated between 13890-13905 yuan, which is a premium of -10~5 yuan
compared with the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 13980-14020 yuan, the average price of 14000 yuan, up 10
.
Yangtze River: 13980-14020, 14000, flat
.
The holders held up the price to ship, but the middleman received the goods at a low price, and the trading before the afternoon weakened significantly, and the overall transaction was flat
.
The spot transaction price is concentrated in 13980-14000 yuan, which is -20~0 yuan higher than the average price of South China East China
.

Although the market's expectations for long-term consumption are weak, the short-term spot strength inhibits short confidence, aluminum prices are difficult to fall quickly, it is expected to continue to maintain range volatility, test the size of the 13800 yuan / ton mark support, continue to pay attention to the change of long and short positions and the pace
of new production capacity of aluminum plants.