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Today's Shanghai aluminum main 1706 contract opened high in the morning, the price once rebounded to 14260 yuan, but then aluminum prices fell again and approached the overnight low nearby, the afternoon market changed abruptly, in the case of glass up limit, bears sharply reduced positions to cause aluminum prices to rise straight up, after which the bulls followed the trend to increase positions, the highest to 14380 yuan, closed at 14350 yuan, up 60 yuan, or 0.
42%.
Index holdings decreased by 2,646 lots to 718,000 lots, and trading volume shrank to 662,000 lots
.
In terms of the external market, the LME aluminum March contract opened today immediately higher, opening at $1896, and then the shock rose, to the highest $1914 under pressure and falling, the afternoon rise narrowed, the afternoon price continued to fluctuate, before the close once straight up but immediately suppressed, and finally the Asian market closed at $1903.
5, up $5.
5, or 0.
29%.
Macro aspect, overnight commodity panic continued to release, the US Dow continued to fall, and gasoline inventories unexpectedly increased led to a sharp decline in crude oil, aggravating the market decline, the market accelerated to the bottom this afternoon, after which A shares staged a magical 2 o'clock market, successful deep V, futures on the glass main large capital sealing board stimulated the overall market long sentiment, bears instantly sharply reduced positions, a number of varieties staged deep V rebound market, the current market should not continue to short
.
Market market, today's Shanghai Nonferrous Metals Trading Center (SME) spot aluminum morning spot trading at 13900-13940 yuan / ton, down 150 yuan / ton from yesterday, due to the end of delivery, the spot price spread widened to c170-c130 yuan / ton
.
Today's Shanghai nonferrous metal trading center SME spot market mainstream trading hours warmer than yesterday, the morning holders have a price phenomenon, mainly to premium shipments, but the quotation of late aluminum decline, holders followed by water shipments, aluminum price fluctuations slowed down, coupled with the near weekend, downstream bargain stocking willingness is obvious
.
In the afternoon, aluminum prices staged a deep V market, some traders slightly increased to catch up the goods, and the trading market once improved
.
Technically, the main KDJ gold fork of Shanghai aluminum has become a dead cross, MACD gold cross but the opening is narrowed, not too late to continue the second bottom and stage a deep V trend, indicating that the support of 14,000 yuan below is strong, the bearish force is weakened, and the short-term aluminum price will stand firm at the 5-day moving average of 14,300 yuan
.
It is expected that the current price spread will continue to maintain a large discount, and tomorrow's quotation may rise to around
14100 yuan / ton.
