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On the first trading day after the holiday, the aluminum market was volatile and strong, the main 1811 contract closed up 0.
84% to 14450 at the end of the day, up 120 from the previous trading day, the market is long and short game, Lun aluminum is under pressure on Hydro Brazilian alumina plant to restart production capacity, the trend is weak, short-term aluminum prices maintain a stable trend, the dilemma trend is prominent; Shanghai aluminum temporarily pay attention to the pressure level of the 14,500 mark; it is expected that tomorrow's spot aluminum fluctuation range is not large
.
Shanghai aluminum main link 1811 contract this morning gap opened at 14370 yuan / ton, the beginning of the session oscillated upward to test 14420 yuan / ton, and then some bears entered the price to 14320 yuan / ton, due to the limited space below, Shanghai aluminum along the 5-day moving average began to rise, climbing 14390 yuan / ton slightly stopped, and then continued to rise in the context of market expectations, bears began to accelerate their exit, Shanghai aluminum finally closed at the end of the day at the highest price of 14450 yuan / ton, up 120 yuan / ton, It rose 0.
85%, with the volume down 46,148 lots to 129,000 lots and the position volume down 1,662 lots to 216,000 lots
.
Yesterday's news that the central bank will reduce the deposit reserve interest rate of major financial institutions by 1 percentage point, the RRR reduction will release about 750 billion yuan, this measure to boost market confidence, prompting today's Shanghai aluminum to close the sun, change the four-consecutive negative pattern, the daily KDJ line has an upward trend
.
Today's release of China's Caixin Services PMI for September, with a better-than-expected reading, had a positive impact
on the market.
Continue to pay attention to the US dollar index and external related event guidance
in the evening.