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On Monday, base metals were mixed, indicating that aluminum prices were volatile and long and short trading was frequent
.
Among them, Shanghai aluminum was weakly sorted, trading at 13810-13910 yuan / ton within the day, and closing at 13860 yuan / ton at the end of the day, down 0.
40%
on the day.
In the external market, as of 15:20 Beijing time, the 3-month Lun aluminum was reported at 1957.
0 US dollars / ton, up 0.
10% on the day, and the upper pressure level was 1980.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13820-13840 yuan / ton, the discount for the month is 10 yuan / ton - flat water, the transaction price of Wuxi is concentrated 13820-13840 yuan / ton, and the transaction price of Hangzhou is concentrated 13840-13860 yuan / ton
.
Near the delivery period, the aluminum ingot premium continued to narrow, traders traded actively, some of them were slightly reluctant to sell, shipments converged, large households in the market still received goods actively, but the downstream receiving situation was more general, and the overall transaction was flat
during the day.
On the news front, the Asian dollar index fluctuated higher, now trading around 97.
327, as the US PPI data for October rose 0.
6% month-on-month, the biggest increase since September 2012, fueling the dollar's trend
.
In the industry, the United States said it pushed back sanctions against Rusal, EN+ and Gaz PAO by nearly four weeks, and the main shareholders of these companies are making plans to reduce their holdings.
The U.
S.
Treasury Department previously gave Russian oligarch Oleg Deripaska a deadline of Dec.
12 to reduce his stake in the three companies, but the latest statement said it pushed that deadline to Jan.
7
, 2019.
Shanghai aluminum was weak during the day, as the US dollar index continued to rise, aluminum prices showed pressure, and the rebound was relatively weak
.
Technically, the MACD indicator has a tendency to form a golden cross at a low level, but the futures price is still under pressure below the moving average combination, and the short-term or continuation of the shock pattern
.
Operationally, it is recommended that the Shanghai-aluminum 1901 contract sell high and sell low between 13800-14000 yuan / ton, and the stop loss is 100 yuan / ton
each.
