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Overnight Shanghai aluminum main force opened at 14240 yuan / ton, due to yesterday's meeting no news, coupled with the exhaustion of production reduction effect, bears high test short, Shanghai aluminum main force continued the afternoon downward trend, fell below the 5-day moving average, the low recorded 14150 yuan / ton, in view of the government's expectation of the implementation of illegal production capacity, bulls entered the protective plate, Shanghai aluminum main force rebounded to climb 14240 yuan / ton, closing at 14235 yuan / ton
.
The trading volume decreased by 50850 lots to 42964 lots, and the position increased by 2480 lots to 229930 lots
.
During the break in the news of production cuts, the bears tried to apply pressure briefly, and the main force of Shanghai aluminum showed a near-doji shape, recording a long lower shadow, indicating the ability of the bulls to protect the plate, and it is expected to run 14150~14300 yuan / ton
within the day.
Spot discount 140~100 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 13970 yuan / ton, the same as the previous day, compared with the discount of 60 yuan / ton for the recent month contract, the willingness of the holders to ship is positive, the middlemen are mainly downstream to receive goods, the orders of downstream enterprises have become weak, the price is high only according to the purchase of just demand, and the overall transaction is stable
compared with yesterday.
The short-term trend of Shanghai aluminum is ready to go, stimulated by the rumors of production reduction in Greek aluminum, and the short-term pulse of aluminum prices is upward; The maintenance peak of domestic zinc smelters has passed, the margin of raw ore supply has increased, processing fees have begun to enter the recovery channel, the medium-term supply increase can be predicted, the early futures deep discount spot has been repaired, and further upward momentum is limited
.
From the perspective of spot trading, refiners actively ship, while downstream processors, whether processors or traders purchase a very small amount, in the short term, the passive rally has begun to suppress downstream demand or detach from real supply and demand
.
