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As of the close of 3 p.
m.
, the main 2102 contract of Shanghai aluminum closed down at 15010, down 410, or 2.
66%.
At present, the stock market plunge has led to the overall weak market sentiment, coupled with the poor performance of the fundamentals of the aluminum market, the aluminum price is under pressure to the downward trend under the interweaving of long and short, short-term Shanghai aluminum trend continues to be weak and volatile, the main force temporarily looks at the support of the 10,000 five mark, if it breaks, there is a possibility of further decline, the operation is recommended to wait and see, it is expected that tomorrow's spot aluminum shock is weak
.
In terms of the market, the activity of the spot market has increased in the morning, with holders actively shipping, downstream stocking, and middlemen slightly cautious
.
The mainstream trading price in Shanghai is around 15,680 yuan / ton, which is about
40 higher than the futures.
The mainstream transaction price in Guangdong is around 15700 yuan / ton
.
With the weakening of terminal consumption and upward transmission, the amount of ingots cast by domestic electrolytic aluminum plants has increased, and explicit inventories have continued to rise
.
The fundamentals of supply and demand in the domestic market weakened seasonally, and aluminum prices came under pressure to decline
.
Subsequently, in the case of the impact of imported aluminum superimposed on the gradual increase of new production capacity in January and February, the supply side is relatively clear; In addition, according to the survey, although the downstream terminal consumption is weak, it is not bad, and there is some support
below the aluminum price.
It is expected that the subsequent aluminum price will show a volatile downward trend, but there will not be too much
downward.
