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On Tuesday morning, the main force of Shanghai aluminum opened at 12670 yuan / ton, after the opening of the short flat more in, Shanghai aluminum shock upward, then the long and short game under the aluminum price stabilized 12710 yuan / ton line, the afternoon bulls increased the scale of entry to continue to promote the upward movement of Shanghai aluminum, above the pressure of the 5-day moving average, after a slight struggle successfully broke through the resistance, the end of the session bears concentrated out of the market to hedge Shanghai aluminum closed at 12785 yuan / ton, the trading volume decreased by 62548 hands to 126208 lots, and the position increased by 4816 hands to 244694 lots
。 At present, the performance of long and short is more cautious, and the continuous chasing and killing of the decline market may be difficult to see in the short term, and it is expected to continue to fluctuate
around the 5-day moving average.
In terms of the external market, in the morning, Lun aluminum opened at 1664 US dollars / ton, the beginning of the session fell slightly, and then the center of gravity slowly moved up, entering the European trading session, Lun aluminum volume rushed higher, twice broke through the 5/10 daily moving average resistance after falling, the high touched 1682 US dollars / ton, the average pressure began to show, into the European trading session, Lun aluminum 1675.
5 US dollars / ton, the evening data surface is light, it is expected that Lun aluminum will continue to test the average resistance
.
On the macro front, the dollar retreated from an eight-month high as the US Treasury yield fell due to Monday's release of the US New York Fed manufacturing index for October, which pushed US bond yields down, which made the trend of non-ferrous metals such as copper and aluminum stop falling and stabilize
.
However, the future of oil prices is still difficult to be optimistic, which is expected to drag down the trend
of non-ferrous metals.
Under the strong expectation of the Fed's interest rate hike, the depreciation trend of RMB is not expected to end, which will lead to a stronger internal trend of copper and aluminum than the external market
.
In terms of the market, the aluminum period fluctuated before the afternoon of the month
.
Shanghai transaction concentration is 13230-13240 yuan / ton, the monthly premium is 260-280 yuan / ton, Wuxi transaction concentration is 13220-13230 yuan / ton, Hangzhou transaction concentration is 13230-13250 yuan / ton
.
On the first day after the change of month, the spot returned to high premium, the shipment of the holder maintained stability, the middleman mainly received the downstream, worried about the subsequent spot price decline, the willingness to replenish the stock is still more cautious, the downstream on-demand procurement, the receiving volume is relatively stable, and the overall transaction is more stable
.
In the late afternoon, aluminum fluctuated upward in the month, Shanghai traded 13280 ~ 13290 yuan / ton, Wuxi traded 13270 ~ 13280 yuan / ton, Shanghai holders wait-and-see shipment attitude is not positive, Wuxi holders price shipment mentality breeds, middlemen inquiry willingness is more positive than in the past afternoon, but it is difficult to find low-priced sources under the limited transaction, the transaction atmosphere is more positive
than in the past afternoon.
From the perspective of the domestic market, the price of aluminum ingots remained stable after the month change, and the mentality of holders was stabilized after the sharp recovery of premium; Considering that the current transportation problem has not been effectively solved, a large number of Xinjiang aluminum ingots are still difficult to transport to the place of consumption, and the price of aluminum ingots is difficult to have downward space
.
