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On Thursday, the Shanghai aluminum 1701 contract opened at 14110 yuan / ton in the morning, the opening aluminum price fell to 14045 yuan / ton, and then driven by the rise of other metals, bulls entered the market, aluminum prices rebounded to overnight high of 14330 yuan / ton, encountered a high level of short testing, Shanghai aluminum briefly pullback, bulls took advantage of the general environment to seize the initiative, futures aluminum broke through yesterday's high, touched a high of 14350 yuan / ton, and other metals have basically hovered near the price limit, and the weakness of the spot market, short-term bulls continue to evade risk, Aluminum prices fell back to near the daily moving average, in the afternoon long and short cautious game, aluminum prices fluctuated above the daily average, and the bulls left the market sharply again at the end of the day, aluminum prices dived down 14030 yuan / ton, closing at 14075 yuan / ton
.
In terms of external trading, Lun aluminum opened at 1778 US dollars / ton in the morning, and Lun aluminum fluctuated around 1780 US dollars / ton before the afternoon of the Asian session, and Lun aluminum rushed up to 1789 US dollars / ton at noon, and Shanghai aluminum fell back in the afternoon, and Lun aluminum fell below the daily moving average; Entering the European trading session, Lun aluminum around the daily average below the oscillation, as of 17:25, Lun aluminum recorded 1775.
5 US dollars / ton, the United States closed for Thanksgiving, pay attention to the guidance of Shanghai aluminum night trading trend on Lun aluminum, Lun aluminum or difficult to do, continue to maintain a high volatility pattern
.
In terms of the market, aluminum futures fluctuated
widely before noon that month.
Shanghai transaction concentration is 14890-14910 yuan / ton, the monthly premium is 250-370 yuan / ton, Wuxi transaction concentration is 14880-14910 yuan / ton, Hangzhou transaction concentration is 14910-14940 yuan / ton
.
Aluminum price supply situation and other metal strong contradiction impact on the futures aluminum, aluminum price volatility rapid and violent, holders like walking on thin ice, dare not leave inventory, cash willingness to maintain positive, spot quotation with plate fluctuations and adjustment, intraday price adjustment frequency is very high, middlemen cautious operation, try to shoot as quickly as possible, compress the retention time, downstream maintenance production on demand procurement
.
The aluminum period fluctuated violently, and the market was cautious and wait-and-see in a strong atmosphere
.
In the late afternoon, aluminum continued to fluctuate in the month, and at the end of the day, it dived again to 14405 yuan / ton, and the holder lowered the quotation, and the quotation was concentrated at 14860-14870 yuan / ton, but the quotation was not interested, and the market almost did not trade
.
In terms of inventory, the data shows that the five places of social aluminum inventory of 269,000 tons, down 10,000 tons from last Thursday, Gongyi area inventory fell the most, affected by the local high discount, Gongyi area inventory flow to South China and East China market, northwest region new aluminum ingot output is normal, but the backlog inventory digestion still takes time, holders said that the volume of freight in transit increased, is expected to enter the warehouse
next week.
In addition, after the import window is opened, it is expected that the amount of imported aluminum ingots will still increase
in the later period.
Although the inventory data is better than expected, the inventory reduction mostly comes from the Gongyi area, and the increase in the volume of goods in transit caused by the basic movement of goods by traders from the two places means that the arrival volume of goods in South China and East China, where consumption is concentrated, will improve significantly next week
.
The expectation of tight supply has been alleviated, spot premiums have also been significantly reduced, and the pressure on the market by the recovery of the supply side has gradually emerged
.
On the plate, the high level of Shanghai aluminum continues to come under pressure, or continues to perform weakly, and short-term operations are the mainstay
.
