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On Monday morning, Shanghai aluminum opened at 14340 yuan / ton, Shanghai aluminum at the beginning of the session slightly rushed to 14375 yuan / ton, and then the trading center of gravity quickly shifted, fell below the 10-day moving average support, the shock down to 14230 yuan / ton, low short cover, Shanghai aluminum oscillated upward, gradually repaired the morning decline, and finally closed at 14330 yuan / ton, the trading volume was reduced to 310140 lots, and the position decreased by 12570 hands to 311426 lots
.
In terms of the external market, in the morning, Lun aluminum opened at 1937 US dollars / ton, the beginning of the session slightly higher to touch 1950 US dollars / ton, here again encountered a retracement of gains, aluminum prices fell to the low touched 1936.
5 US dollars / ton, the 20-day line began to show support, Lun aluminum low rose back to the daily average of around 1944 US dollars / ton, into the European trading session, Lun aluminum rapid discharge touched 1933 US dollars / ton, and then narrow range shock below the 20-day line demand opportunity breakthrough, as of 17:21 Lun aluminum reported 1937 US dollars / ton, It is expected that Lun aluminum may repeatedly test the effectiveness of the 20-day line support and pay attention to the trend of domestic Shanghai aluminum
.
On the macro front, oil prices fell more than 2 percent on Friday, posting their biggest weekly decline in more than a month this week as growing signs of rising U.
S.
production and inventories offset OPEC's efforts to
reduce the global crude glut.
Gold prices edged higher on Friday as investors awaited the first round of voting in the French presidential election over the weekend and the possible announcement of tax reform
in the United States.
Treasury prices have been boosted in recent weeks as expectations of two more rate hikes this year by the Federal Reserve have weakened
following weak economic data.
In terms of the market, aluminum futures fluctuated
widely before noon that month.
Shanghai transaction concentration is 14030-14070 yuan / ton, the discount for the month is 160-140 yuan / ton, Wuxi transaction concentration is 14030-14060 yuan / ton, Hangzhou transaction concentration is 14050-14060 yuan / ton
.
Although some smelters do not ship, traders who receive goods in the early stage due to the existence of futures arbitrage profit margins are actively shipped, the overall circulation supply is more sufficient, the futures aluminum shock, the middlemen cautiously receive the goods, the spot price is about four, the downstream enterprises purchase on demand, and the overall transaction is acceptable
.
In the late afternoon, aluminum was still repeatedly oscillating in the shock range, and the holders shipped at a high level, and the transaction price was concentrated at 14050-14070 yuan / ton, and traders received goods
.
At present, long and short funds are cautious, mainly to close positions, short-term is expected to maintain range volatility in Shanghai, pay attention to the details of capacity reduction policy successively introduced
.
