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On Friday morning, Shanghai aluminum opened at 14135 yuan / ton, the early day bears took the initiative to pressure, the early entry bulls left the market and waited, Shanghai aluminum under pressure back to 14075 yuan / ton line, low long entry enthusiasm significantly enhanced, Shanghai aluminum trading center of gravity slowly moved up, about 11:10, Shanghai aluminum increased positions in a straight line, in the afternoon to maintain a high shock once touched 14265 yuan / ton, closed at 14225 yuan / ton, The trading volume decreased by 103,000 lots to 304552 lots, and the open position increased by 23,034 lots to 305912 lots
.
The short-term expectation of "capacity reduction" is expected to continue to ferment, and next week is expected to be strong in Shanghai aluminum shock, with an operating range of 14000~14500 yuan / ton
.
On the external side, on Friday, the LME was closed for "Easter" in the UK
.
Until the market
resumes next Monday.
In terms of the market, aluminum fluctuated before noon in the month, and rose to 14,050 yuan / ton
at the end of the day.
Shanghai trading concentrated 13860-13910 yuan / ton, the discount for the month was 100-80 yuan / ton, Wuxi transaction concentrated 13850-13910 yuan / ton, Hangzhou transaction concentrated 13890-13910 yuan / ton
。 In the first stage, the period aluminum shock, some smelters actively shipped, receiving traders due to the price difference is suitable and actively shipped, spot transaction price concentrated 13860-13880 yuan / ton, futures aluminum showed signs of rising, traders inquiry and willingness to receive goods positive, downstream enterprises weekend stocking time has been moved from Friday to Thursday to start, intraday receipt did not see a significant improvement, the second stage, aluminum suddenly to fuel traders and downstream enterprises to receive enthusiasm, holders closely follow the price adjustment, The spot quotation moved up to 13880-13910 yuan / ton, traders inquired positively, but the transaction was wait-and-see, and the overall transaction was still active
.
In the late afternoon, the high of the month fluctuated, and the holders further increased their quotations, and the transaction price range was 13950-13970 yuan / ton, with sporadic transactions
.
The fundamentals of Shanghai aluminum are still weakening in the near future, and the supply pressure has rebounded, but the domestic market has once again transmitted capacity information, roughly the de-capacity policy has been formulated and will be issued
in the near future.
Therefore, weak fundamentals once again encountered resistance from the capacity reduction policy, and aluminum prices took advantage of the trend to rebound
.
This rumor is more likely, but caution remains for
the time being.
Light short orders are held temporarily, and the stop
loss of 14200 is broken before closing.
