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On Friday, the main contract of Shanghai aluminum 1912 opened at 13810 yuan / ton in the morning, after the opening of the short position to reduce the position and leave the market, the plate opened the upward channel, the bears once tried to increase the position, but unexpectedly encountered the bulls blocked, the rear market in the bulls strong position to the next time up to 13905 yuan / ton, hit a two-week high, afternoon trading session, the high short took the opportunity to increase positions to suppress, the end of the session part of the bulls took profits, and finally closed at 13875 yuan / ton, up 35 yuan / ton from the previous day, up 0.
25
。
In terms of the external market, the London aluminum March contract opened at $1759.
5 / ton in the morning, and the Asian trading session rose with the internal resonance, the highest touched $1764 / ton, and the European trading session opened out of a long black candle, reaching a day's low of $1752.
5 / ton, and then rebounded slightly, as of 17:54 domestic time, it was reported at $1756 / ton
.
A slight drop of 3 US dollars / ton from the previous day, located above the moving average group, the European session in the past two days is short, and the North American trading session is more, but the overall London aluminum is guided by the internal market, and it is expected to run between
1745 ~ 1760 US dollars / ton.
In terms of the market, aluminum futures fluctuated upward before noon that month
.
The spot price of Shanghai, Wuxi and Hangzhou is between 14,000-14,010 yuan / ton, and the premium of the opposite plate is around 70-80 yuan / ton, and the spot price is around 40 yuan / ton higher than the previous day
.
The spot premium is relatively high, the holders do not ship much, and the price is relatively high, I heard that a large household released long orders and spot goods are not much, and the planned purchase volume is not full, the middleman is still active in receiving goods, but the trading with the holder is more
deadlocked.
Because on Friday, the downstream considered a small amount of stock for the weekend, but in view of the higher prices, the downstream is still afraid of heights, and the overall purchase volume has not increased
significantly.
In the late afternoon, aluminum continued to rise, with holders quoting around 14030-14040 yuan / ton, and the opposite plate premium around 80-90 yuan / ton, traders and downstream have a small amount of transactions
.
On the macro front, China's manufacturing PMI in October was 49.
3, lower than expected, down 0.
5 percentage points from the previous month, the manufacturing boom fell, and market demand fell
.
Weak domestic economic data weighed on the sentiment of the commodity market, aluminum prices lacked support, it is expected that Shanghai aluminum fluctuates in a narrow range, and spot aluminum prices may not rise or fall much
.
