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Today's Shanghai aluminum main month 2009 contract opened at 14675 yuan / ton, the highest intraday 14830 yuan / ton, the lowest 14635 yuan / ton, settled 14725 yuan / ton, and closed at 14695 yuan / ton, up 100 yuan
.
Today's Shanghai aluminum trend is strong, the current inventory accumulation is less than expected, downstream consumption performance is acceptable, aluminum prices maintain a strong trend
.
Today, Lun aluminum fluctuated slightly, and the LME three-month aluminum was reported at 1744.
5 US dollars / ton at 15:00 Beijing time, unchanged from the settlement price of the previous trading day
.
In terms of the market, today's spot trading price of Yangtze River is 14970-15010 yuan / ton, up 110 yuan; Guangdong South Reserve reported 14930-14990 yuan / ton, up 130 yuan; Hua reported 15090-15110 yuan / ton, up 120 yuan
.
Cargo holders reduce premiums, middlemen and downstream purchase on demand, and the overall transaction is acceptable
.
Last week, Shanghai aluminum maintained a strong pattern and reached a new high, firstly, the US dollar index fell sharply to support the overall metal, secondly, economic data and easing policies in Europe and the United States and other countries promoted market expectations, and then the domestic spot squeeze market reappeared, on the whole, short-term aluminum prices are more around the macro and capital to price.
From the perspective of supply and demand, although inventories remain low and have not accumulated significantly, spot supply is sufficient and demand still has many uncertainties, and the marginal supply and demand structure has weakened
.
However, due to the current low inventory and the rhythm of domestic production capacity release, aluminum prices are dominated by funds, and the game between strong reality and weak expectations is becoming increasingly intense
.
However, in the medium and long term, such a high profit aluminum price is bound to lead to the accelerated release of supply, and it is difficult for demand to increase under the influence of the epidemic, and the stage of inventory accumulation can be encountered
.
However, until the release of production capacity, the strong spot support of low inventory is still maintained
.
Operationally, it is recommended that speculative long orders continue to be held with the trend, and chasing long positions pay attention to the risk
of large fluctuations at high levels.
