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On Tuesday, the main 2004 contract of Shanghai aluminum opened at 13685 yuan / ton in the morning, steadily climbed after the opening, the bulls slowly increased their positions, aluminum prices in the first trading stage to test 13730 yuan / ton, after the second trading stage began to run, Shanghai aluminum continued to rise, but hindered by 13740 yuan / ton line is difficult to continue to break through, the end of the session part of the long position, aluminum prices slightly fell to 13715 yuan / ton, and finally closed at 13725 yuan / ton, up 35 yuan / ton, up 0.
26%.
In terms of the external market, Lun aluminum opened at 1718 US dollars / ton in the morning, and after the Asian session rushed to a high of 1727 US dollars / ton, maintaining a narrow range of volatility around 5 US dollars / ton, due to long-term wandering without further action, the European market stage as the US index continued to refresh the high of 99.
266, Lun aluminum performance high down, all the way down to give up all the gains of the day, fell to the low of 1713 US dollars / ton, as of 16:55, Lun aluminum closed at 1717 US dollars / ton, closed at the small black line, the center of gravity is still below all moving averages , the rise and fall were flat
.
In terms of the market, aluminum futures rose all the way before noon of the month
.
The mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets is concentrated between 13580-13600 yuan / ton, which is about 30 yuan / ton higher than the previous day, and the spot premium is discounted between 120 ~ 100 yuan / ton, and the morning part of the transaction is around
13610 yuan / ton.
Intraday traders are more active in trading, holders are actively shipping, and middlemen are more willing to receive goods, but limited by the fact that some warehouse aluminum ingots are more difficult to leave the warehouse, so the actual transaction between the two sides is general, and the spot discount after delivery is also large
.
Although the downstream has gradually started construction, the demand for raw materials has not yet been fully reflected, and there is no obvious sign of
receiving goods within the day.
The overall intraday transaction in East China is average
.
The afternoon transaction price was around 13610-13620 yuan / ton, and the opposite plate was around 90 yuan / ton, only a small number of transactions between traders, and almost nothing
downstream.
Downstream consumer enterprises have resumed work one after another, but there is still a gap between the resumption rate before the holiday, and downstream consumption has maintained a weak trend
.
In the case of low Shanghai aluminum prices, the recovery of downstream consumption and the successive introduction of stimulus policies may bring impulse rise to aluminum prices, and observe the opportunity
to go long on dips.
It is expected that aluminum prices will maintain a low volatility trend
until the epidemic is effectively controlled.
