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Shanghai aluminum opened at 14045 yuan / ton on Wednesday morning, the intraday long and short game is more intense, aluminum price time-sharing volatility is significantly enhanced, the high touched 14110 yuan / ton, the low touched 13955 yuan / ton, the daily average performance is strong, but at the end of the session Shanghai copper increase downward, the surrounding metals are dragged down, there are different magnitudes of decline, Shanghai aluminum early entry bulls left the market to avoid safety, aluminum prices passively fell to close at 13970 yuan / ton, The trading volume increased by 144,000 lots to 384342 lots, and the open position increased by 20,692 lots to 257978 lots
.
At present, the divergence of capital views is intensifying, and it is difficult for Shanghai Aluminum to get rid of the moving average shock range, continue to pay attention to the competition between long and short for the Wansi mark and the surrounding metal trends, and focus on the effective support
of the 60-day line.
In terms of external trading, Lun aluminum opened at 1924 US dollars / ton in the morning, and Lun aluminum rose slightly higher in the Asian market to touch 1929 US dollars / ton after a narrow range above the daily moving average, and the afternoon rapid low touched 1914 US dollars / ton, entering the European trading session Lun aluminum straight up to record 1925.
5 US dollars / ton, and then the trading center of gravity steadily shifted, as of 17:44 Lun aluminum reported 1920 US dollars / ton, Lun aluminum entered the oversold range, is expected to try to recover the middle Bollinger band in the short term, geopolitical crisis rippled financial market turmoil, Although Lun Aluminum itself is strong, the market atmosphere is empty, which is inevitably dragged down
.
On the macro front, the previous US employment data weakened the US Federal Reserve (FED/Fed) interest rate hike expectations, the dollar rose, the market safe-haven demand weakened, but the non-ferrous market received little boost, although the dollar weakened, but the metal price rebound is limited, the weak shock pattern is difficult to change
.
In terms of spot, aluminum futures fluctuated around the daily moving average before noon of the month, with Shanghai trading concentrated 13770-13780 yuan / ton, discount 120-90 yuan / ton for the month, Wuxi trading concentrated 13760-13780 yuan / ton, Hangzhou trading concentrated 13780-13790 yuan / ton
.
Under the continuous pressure of high inventory, the cargo holder has a very positive attitude towards shipment, the circulation supply is sufficient, the middleman is looking for a high discount source, the appropriate receipt of goods, the spot price change is small, the downstream enterprises maintain stable receiving strength, the overall transaction shows that the demand remains unchanged, and the supply increases the pattern
.
In the late afternoon, aluminum rose to 13900 yuan / ton in the month and fell back to 13840 yuan / ton after being blocked, and the price of the holder was adjusted with the market, the transaction price was 13730-13770 yuan / ton, the spot discount remained at the level before the afternoon, and the market wait-and-see mood in the afternoon was strong, and a small number of transactions were made
.
Shanghai aluminum main force 1706 contract intraday rushed back down, short-term pressure is in the previous high of 14690 line, and it is difficult to appear unilateral trend in the short term, so the idea of rushing high and short is the mainstay
.
