July 26 aluminum market brief comment

On Thursday, the main 1909 contract of Shanghai aluminum opened at 13795 yuan / ton
.
After the opening low touched 13790 yuan / ton after the bulls took the initiative to increase their positions, Shanghai aluminum quickly broke through the 20-day moving average, and then the social aluminum ingot inventory release declined, giving bulls confidence to continue to raise aluminum prices to break through the 5/10/40 daily moving average, the end of the day bears fled, Shanghai aluminum high touched 13895 yuan / ton, closing at 13890 yuan / ton
.
Positions increased by 9,300 lots to 244892 lots, and Shanghai aluminum index positions increased by 13,494 lots to 685362 lots
.
The unexpected reduction in social aluminum ingot inventories exceeded previous expectations for weakening downstream consumption, and bulls' confidence was boosted, and Shanghai aluminum also recorded a big yang
.

South Reserve South China aluminum ingot quotation 13820-13920 yuan, the average price of 13870 yuan, up 90 yuan, the month premium 25 yuan, aluminum price rebound, long order settlement day shipment general, premium continues to expand, traders take the opportunity to enter the market to purchase, the overall transaction is not as good as the previous day, the mainstream transaction price is concentrated between 13870-13890 yuan, compared with the average price of South China 0~20 yuan
.

Nanchu East China aluminum ingot quotation 13840-13880 yuan, the average price of 13860 yuan, up 70
.
Yangtze River: 13840-13880, average price 13860, up 80
.
Futures fluctuated upward, holders continued to sell at high prices, and the market circulation was tight, but the middlemen's attitude towards receiving goods was slightly hesitant, and the overall transaction was average
.
The transaction is mainly concentrated between 13860-13870 yuan, which is 0~10 yuan higher than the average price of South Reserve East China
.