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Shanghai aluminum opened at 13930 yuan / ton on Wednesday morning, after the opening of Shanghai aluminum was not dragged down by the fall of Lun aluminum during the holiday, bulls took the initiative to enter the market to raise aluminum prices, Shanghai aluminum rose sharply to touch 14185 yuan / ton, high long and short are more cautious, Shanghai aluminum around 14150 yuan / ton a narrow range of oscillation, afternoon short more exit, bears try to enter, Shanghai aluminum fell low to touch 14085 yuan / ton, the end of the session bulls again entered to push up aluminum prices, Shanghai aluminum closed at 14160 yuan / ton, the volume was reduced to 227174 lot, The open position increased by 992 lots to 269514 lots
.
The position of Shanghai-aluminum 1706 contract increased by 20,030 lots to 211314 lots, and the position accelerated backward
.
"Supply-side reform" coupled with "Xiong'an New Area" is expected to give bulls confidence, and it is expected that Shanghai aluminum will still have upward momentum in the short term
.
In terms of external trading, in the morning, Lun aluminum opened at 1940.
5 US dollars / ton, the Asian market was initially driven by domestic Shanghai aluminum, Lun aluminum rose rapidly, touched 1968 US dollars / ton, the center of gravity of the afternoon transaction has shifted, aluminum prices around the daily average of 1960 US dollars / ton a line of oscillation, into the European trading session Lun aluminum continued to sort out around the daily moving average, as of 16:28 Lun aluminum reported 1957 US dollars / ton, pay attention to the US ADP data, it is expected that Lun aluminum or continue to try to rise
.
In terms of news, on April 1, the CPC Central Committee and the State Council issued a notice deciding to establish Hebei Xiong'an New Area
.
As a result, the pattern of "South Shenzhen, East Pudong, North Xiong'an" was formed, and the news caused heated discussions in the market
.
This move may accelerate the construction of infrastructure in the Baiyangdian area, thereby increasing the consumption of non-ferrous metals, etc
.
, and the non-ferrous market will be boosted.
In terms of spot, aluminum futures rose sharply to 14,050 yuan / ton
before noon of the month.
Shanghai transaction concentration is 13910-13920 yuan / ton, the discount for the month is 150-140 yuan / ton, Wuxi transaction concentration is 13900-13920 yuan / ton, Hangzhou transaction concentration is 13940-13950 yuan / ton
.
Smelters control shipments, traders are actively shipping, spot discounts narrowed slightly, aluminum rises too fast, middlemen wait and see, return after the holiday, downstream enterprises can not accept the spot price rise for a while, temporarily wait and see, the overall transaction shows a stalemate
in supply and demand.
In the late afternoon, aluminum fell back to the high of the month to repair part of the decline after the support of the 14,000 yuan / ton mark, and the quotations of holders were concentrated at 13890-13900 yuan / ton, the plate fell, the receiver was in a wait-and-see mood, and the aluminum repair decline in the late trading period, and the holders were hesitant to sell and wait and see
.
Aluminum prices unexpectedly strengthened sharply during the day, Shanghai aluminum rose above the 14,000 yuan mark, spot aluminum prices rose more sharply, aluminum market traders therefore actively shipped, but buyers chasing higher purchases are relatively cautious, on-demand purchases
.
The loosening of funds after quarterly settlements, supply-side reforms, and the improvement of global manufacturing data are the main driving forces
for this round of aluminum price increases.
