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On Wednesday, the main force of Shanghai aluminum opened at 13730 yuan / ton in the morning, and after the opening of the short space began to leave the market one after another, Shanghai aluminum low touched 13670 yuan / ton after the shock upward, the afternoon high touched 13755 yuan / ton
.
In the afternoon, long and short positions were closed and exited, and Shanghai aluminum shock closed at 13745 yuan / ton, continuing to be below
the 5-day moving average.
The position decreased by 12470 lots to 263790 lots, and the position of the Shanghai aluminum index decreased by 13562 lots to 711826 lots
.
In terms of external disk, Lun aluminum opened at 1941.
5 US dollars / ton
in the morning.
During the Asian session, London aluminum maintained a narrow range with the domestic market, and the Asian session was basically under pressure of 1945 US dollars / ton and lacked action, and the trading volatility throughout the day was less than 5 US dollars / ton
.
After entering the European session, with the correction of the US index, Lun aluminum rose sharply, touching a high of 1958.
5 US dollars / ton, as of 16:56 Lun aluminum reported 1955 US dollars / ton, located above
the 10-day moving average.
In the spot market, aluminum stabilized after the shock rebounded that month
.
The transaction price in Shanghai is concentrated at 13710~13720 yuan / ton, the discount for the month is 50 yuan / ton ~ 40 yuan / ton, the transaction price in Wuxi is concentrated in 13710~13720 yuan / ton, and the transaction price in Hangzhou is concentrated between
13720~13740 yuan / ton.
Intraday cargo holders have a more positive attitude towards shipments, due to the emergence of the aluminum back structure, some middlemen for arbitrage considerations, trading is more active, downstream basic on-demand procurement, but due to the recent weak price, there is no obvious stabilization trend, downstream has a wait-and-see attitude to the price, the enthusiasm for receiving goods is not high
overall.
On the news front, China's production estimate rose to 3.
05 million mt in October and 3.
01 million mt
in September.
London, November 20, data released by the International Aluminium Association (IAI) showed that global primary aluminum production (including China) increased to 5.
414 million tons in October, compared with 5.
301 million tons
in September.
China's production estimate rose to 3.
05 million mt in October and 3.
01 million mt
in September.
Overall, the reduction of electrolytic aluminum production has not yet constituted a scale, aluminum price rebound momentum is obviously insufficient, Shanghai aluminum main contract intraday weak fluctuations around 13700, the end of the close at 13745, down 25 from the previous trading day, down 0.
18%.
Weak fundamentals are difficult to improve in the short term, aluminum prices rise lack of favorable stimulation, short-term Shanghai aluminum is still low volatility, below focus on 1.
35-13,600 range support, pay attention to electrolytic aluminum production reduction
.
