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Overnight Shanghai aluminum main contract opened at 14315 yuan / ton, the beginning of the session short concentrated entry, Shanghai aluminum volume diving low touched 14160 yuan / ton, and then in the short profit take long try to enter the participation, aluminum prices repair part of the decline, weak shock at the daily average, but at the end of the session bulls safe haven exit, aluminum prices again down, closed at 14190 yuan / ton, Shanghai aluminum index positions increased by 18778 hands to 796716 lots, short positions are the mainstay, it is expected that today's Shanghai aluminum main contract or will try to recover 5/ 10-day moving average, operating range 14100~14300 yuan / ton, spot discount 240~200 yuan / ton
.
In terms of the market, on the same day, SMM A00# aluminum spot price was 13910 yuan / ton, down 30 yuan / ton from the previous day, compared with the discount of 270 yuan / ton for the recent month contract, and the inventory increased by more than 250,000 tons during the Spring Festival, but the market circulation supply is relatively small, and the inventory increment does not match, the middleman actively inquires due to the discount price difference, bills and downstream consumption, downstream consumption gradually warms up, and the overall transaction is stable and rising
.
The performance of the Shanghai aluminum night market has some support, continuing the previous situation
.
At present, the cost support of Shanghai aluminum below is relatively solid, and it is difficult to break through
the 14,000 yuan line.
However, in the environment of aluminum ingot stocks approaching 2 million tons, the short-term aluminum market will still have a strong bearish atmosphere
.