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On Tuesday, the main 2008 contract of Shanghai aluminum opened at 14,700 yuan / ton in the morning, and the opening 15-minute short entry of more than 450 lots, the aluminum price began to leak, accompanied by some bulls risk-off exit, the aluminum price fell to the low of the day of 14465 yuan / ton
.
After that, mainly short profit and position reduction, aluminum prices rebounded slightly and recorded a daily high of 14,600 yuan / ton
at about 11:25 noon.
In the afternoon, the bears entered strongly again, and the price of aluminum fell down to give up the noon gains, and once again fell to a low of 14465 yuan / ton, and then the confidence of the long and short was slightly insufficient, and they successively reduced their positions, and the price of aluminum was mainly in a narrow range, closing at 14485 yuan / ton
at the end of the session.
In the external market, Lun Aluminum opened at 1688.
5 US dollars / ton in the morning, and during the Asian session, Lun Aluminum showed the largest decline in the day about an hour after the opening, recording a low of 1676 US dollars / ton
.
A strong rally before midday to recover losses in early trading
.
In the afternoon, the overall price of Lun aluminum continued to show a volatile downward trend, and as of 15:00, Lun aluminum was reported at 1681.
5 US dollars / ton
.
During the European session, Lun aluminum continued the downward trend in the afternoon, testing down 1672 US dollars / ton, as of 17:30, Lun aluminum reported 16,76 US dollars / ton, down 14 US dollars / ton, daily K temporarily closed at a small black line, the center of gravity is still above
the 5-day moving average.
Aluminum maintained range-bound
volatility after the noon high level.
The spot price in Shanghai and Wuxi is between 14890-14920 yuan / ton, the price in Wuxi is slightly higher, the price in the two places fell by more than 500 yuan / ton from the previous day, giving up most of the previous day's increase, the transaction price in Hangzhou was 14940-14960 yuan / ton
.
In the morning, the shippers shipped positively, but the quotation was high, the actual transaction was small, and the market trading entered the right track after 10:00, the holder's quotation began to fall, the enthusiasm for shipment was not reduced, and the overall transaction between traders was acceptable
.
The enthusiasm of downstream intraday receiving goods has rebounded significantly compared with the previous day, and the price sensitivity is higher, with the sharp decline in aluminum prices, lest the late price rebound be affected by the sentiment, intraday receipt is acceptable
.
However, a large household still did not carry out a procurement plan in East China within the day, and on the whole, the transaction in East China was average
.
In the late afternoon, aluminum was mainly sideways, and the price of the holder was between 14860-14880 yuan / ton, and the premium of the opposite plate was around 30 yuan / ton, and only a small number of transactions between traders, and there was almost no
downstream.
On the whole, the price of electrolytic aluminum is still supported by fundamentals, the upward logic of spot-driven futures prices remains unchanged, and the contract delivery is approaching, the spread narrows rapidly in the next month, and the spot price has narrowed compared with the premium of the current
month's contract.
It is necessary to pay attention to changes in the fundamentals of the spot market and the flow of
long and short funds.
