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On Monday, the main contract of Shanghai aluminum opened at 14,420 yuan / ton in the morning, and the domestic mainstream consumption of electrolytic aluminum inventory increased sharply by 61,000 tons to 2.
187 million tons, aluminum prices were under pressure and leaked, the low touched 14,270 yuan / ton, and then rebounded slightly to 14,345 yuan / ton in the afternoon, the black and surrounding metals leaked sharply in the afternoon, the Shanghai aluminum rebound was limited, turned down again, the low still touched 14,270 yuan / ton to stop falling, and the end of the session bears covered Shanghai aluminum closed at 14,295 yuan / ton, Shanghai aluminum index holdings increased by 7462 lots to 795916 lots
.
In terms of the external market, in the morning, Lun aluminum opened at 2153 US dollars / ton, at the beginning of the session, Lun aluminum fell sharply to a low of 2137 US dollars / ton, and then weak shock below the daily moving average, the trend is relatively light, into the European trading session Lun aluminum vibration frequency increased, in several times to test the daily average resistance after successfully broke through, once rebounded to 2148 US dollars / ton, recovered the 5-day moving average, as of 17:33, Lun aluminum reported 2145 US dollars / ton, pay attention to the domestic aluminum price guidance
for Lun aluminum prices.
In terms of the market, the transaction concentration in Shanghai was 13960-14000 yuan / ton, the discount for the month was 160-150 yuan / ton, the transaction concentration in Wuxi was 13960-14000 yuan / ton, and the transaction concentration in Hangzhou was 13970-13990 yuan / ton
.
Holders adjust prices with the market, keep the discount at about 150 yuan / ton, aluminum rises in the later period, and holders are willing to bargain at a low price, but due to the deadlock between the supply and demand ends on the transaction price, the transaction volume is general, downstream enterprises purchase on demand, the overall transaction is general, and the supply and demand sides form a stalemate and mismatch
.
In the late afternoon, aluminum fluctuated operation, and the transaction price in East China was 13990-14000 yuan / ton
.
In terms of news, this week entered the time window of the National Two Sessions, during the meeting to maintain stability, the expectation of state-owned enterprises, state-owned assets, finance, taxation and financial reforms is conducive to enhancing risk appetite, it is expected that the stock index will maintain repeated volatility and build a bottom is more likely, it is recommended to build more on the dip, and lay out the spring bullish
market.
Intraday metal collective downward, from the range of rise and fall, Shanghai aluminum performance is stronger than rebar iron Shanghai zinc, weaker than Shanghai copper Shanghai lead Shanghai tin, basically flat Shanghai nickel, in the context of the inventory surge of 61,000 tons of aluminum price single-day decline is still within the acceptable range
.
Shanghai aluminum continues to decline to meet the conditions for the continuous downward movement of costs superimposed on the continuous accumulation of inventory, and the rebound momentum is driven by the arrival of the consumption season to de-inventory market, the current downstream orders still need to be investigated and observed, short-term aluminum prices are expected to maintain range volatility, difficult to continue to fall
.
