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Last Friday, the main contract of Shanghai aluminum 1909 opened at 13920 yuan / ton
in the morning.
After the opening, the bears entered Shanghai aluminum fell slightly, touching 13890 yuan / ton at a low level, which is the intersection of the
5/10/20 daily moving average.
The low level led to long positions to increase, and Shanghai aluminum rose to 13955 yuan / ton
.
Then the short entered the long flat, the Shanghai aluminum shock fell back, and touched the 5/10/20 daily moving average intersection again in the afternoon, closing at 13910 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1776.
5 US dollars / ton
in the morning.
During the Asian session, Lun aluminum maintained a narrow range of 5/10 daily moving average, touching $1775 / ton at a low in the afternoon, maintaining a narrow range in the afternoon, touching the 10-day moving average of $1782 / ton at a high level, and as of 15:00, Lun aluminum was reported at $1781.
5 / ton
.
During the European session, the volatility of London aluminum intensified, the volatility is still narrow, as of 16:25 Lun aluminum was reported at 1778.
5 US dollars / ton
.
In the spot market, aluminum futures maintained a narrow range
fluctuation in the month.
The mainstream transaction price of Shanghai Wuxi is between 13930-13950 yuan / ton, the premium of the month is around 20-30 yuan / ton, the price is about 60 yuan / ton from the previous day, and the transaction price of Hangzhou is between
13950-13960 yuan / ton.
The intraday market supply is relatively loose, because the spot price has risen sharply compared with the previous day, the holder shipment is active and slightly up, the price is relatively firm, driven by the rhythm of a large household receipt, traders and middlemen trading is still active, but downstream manufacturers are more afraid of heights, although there is a certain amount of goods received at the end of last week, but the purchase volume has not increased
significantly compared with the previous day.
In the late afternoon, aluminum maintained a slight fluctuation, and the price of the holder was between 13930-13940 yuan / ton, and the premium of the plate was between 20-30 yuan / ton, but the afternoon market was light and the transaction was almost nothing
.
As the U.
S.
index gradually declined, Lun aluminum gradually repaired the weekly decline, but the upper 10-day moving average still has greater pressure, pay attention to the impact of macro data on the U.
S.
index, if the U.
S.
index falls, Lun aluminum will try to continue to repair the previous decline
.
During the week, the inventory of social aluminum ingots only increased by 10,000 tons, and consumption was still acceptable
.
In addition, it is rumored on the Internet that alumina enterprises limited production by 50% during the Xiaoyi Second Youth Meeting, which made the price of alumina stop falling
in the short term.
Coupled with the Fed's lower than expected interest rate cut and the trade war panic has dissipated, Shanghai aluminum still maintains expectations for consumption to improve in September and October, and Shanghai aluminum fluctuates upward
.
It is expected that in the short term, Shanghai aluminum will remain strong and volatile, trying to break through the upper 14,000 yuan / ton mark
.
