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On Thursday, Shanghai aluminum opened at 14090 yuan / ton, the beginning of the market large single short open-based, bulls saw the trend to leave the market to avoid risk, Shanghai aluminum opened a stepped down, the low touched 13855 yuan / ton, the afternoon aluminum price temporarily stabilized, struggling around 13900 yuan / ton, early afternoon entry bulls expanded the scale of exit, Shanghai aluminum trading center of gravity continued to move down to touch the low of the day 13805 yuan / ton, the end of the session slightly recovered to close at 13840 yuan / ton, temporarily guarding the 13800 yuan / ton integer mark
。 Coking coal coke led the black market to close two consecutive negatives, the market is more bearish atmosphere, spot inventory increase is large, the morning large single short opening, short-term is expected that Shanghai aluminum still has downward space, continue to pay attention to the exit scale
of long funds.
In addition, the downstream replenishment market has gradually improved, and consumption expectations may limit the depth of the pullback
.
In terms of external trading, in the morning, Lun aluminum opened slightly lower at 1888 US dollars / ton, after the opening quickly leaked, then stabilized 1874 US dollars / ton line, in the afternoon Lun aluminum continued to decline, once touched 1868 US dollars / ton, the end of the Asian market aluminum price rose slightly, into the European trading session Lun aluminum around the daily average amplitude intensified, the center of gravity of the transaction has moved up, as of 17:15 Lun aluminum 1876 US dollars / ton, the upper 5-day moving average below the 10-day line to form a strong resistance, the evening data surface is light, it is expected that Lun aluminum maintain a weak shock
。
In terms of the market, aluminum fell by more than 200 yuan / ton before noon of the month, and then fluctuated
at a low level.
Shanghai transaction concentration is 13550-13570 yuan / ton, the discount for the month is 250-230 yuan / ton, Wuxi transaction concentration is 13550-13560 yuan / ton, Hangzhou transaction concentration is 13580-13600 yuan / ton
.
Holders are afraid of the decline and positive willingness to exchange cash, the spot price fell below 13600, middlemen took the initiative to find low-priced sources, prices fell sharply, downstream enterprises were willing to buy at the dip, month-end factors, the price difference between the current month's ticket and the next month's ticket showed a price difference, and the overall transaction was warmer
than yesterday.
In the late afternoon, aluminum fell to around 13740 yuan / ton in the month, and the holders adjusted prices with the market, and the transaction price was concentrated at 13500-13530 yuan / ton, and the aluminum continued to decline, and the demand side waited and saw tomorrow's price
.
In terms of inventory, the latest inventory data shows that as of February 23, the total social aluminum inventory in the five places in the country was 953,000 tons, an increase of 75,000 tons from last Thursday, and the total inventory approached the 1 million ton mark; as the inventory continued to rise sharply, while Xinjiang foreign transportation is still continuing, spot aluminum prices have obvious signs of oversupply, and aluminum prices may continue to be under pressure
.
On the market, Shanghai aluminum fell below the 14,000 key support, aluminum prices may further shock down, and short orders in the early stage continue to hold
.
Overall, today's commodity market suffered Black Thursday, many varieties continued yesterday's decline, and short-selling sentiment was once again cathartic
.
Although the main force of Shanghai aluminum rebounded overnight, but after the morning opening showed fatigue, in the background of the overall weakening of the market, the main force of Shanghai aluminum fell all the way, indicating that the pressure of high domestic inventory is gradually amplifying, due to the approach of the two sessions, the implementation of capacity reduction measures is also expected to rise, slightly supporting
aluminum prices.
Short-term aluminum prices will continue to adjust, and it is expected that tomorrow's spot aluminum prices will maintain around 13,500 yuan / ton
.
