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Brief comment on the aluminum market, Thursday Shanghai aluminum main 1907 contract opened at 14250 yuan / ton in the morning, after the opening of the long position reduction, aluminum prices under pressure downward to the lowest level of the day 14225 yuan / ton, then some short positions closed profit exit, aluminum prices took advantage of the slight recovery; At the beginning of the second trading session, the bulls entered, the aluminum price continued to rise to 14280 yuan / ton, and then the bulls were not confident and reduced their positions by nearly 4,000 lots, the aluminum price lost support and returned to the daytime opening price, and finally closed at 14250 yuan / ton, down 35 yuan / ton, down 0.
25%.
The quotation of South China aluminum ingots in South China is 14200-14300 yuan, the average price is 14250 yuan, down 60 yuan, the premium of the month is 110 yuan, the market trade atmosphere is cold, the circulation of goods is relatively limited, the high premium inhibits the demand side of mining, the overall transaction is not optimistic, the mainstream transaction price is concentrated between 14240-14250 yuan, which is -10~0 yuan
higher than the average price of South China Reserve.
Nanchu East China aluminum ingot quotation 14130-14170 yuan, the average price of 14150 yuan, down 60
.
Yangtze River: 14150-14190, 14170, down 30
.
Spot prices continued to decline, receivers remained positive, holders increased shipments, market circulation increased supply, and overall transactions were acceptable
.
The transaction price is between 14150-14170 yuan, which is between 0~20 yuan higher than the average price of South Reserve East China
.
Intraday bulls hesitated, and the resumption of production of Hydro's alumina plant was bearish on the news, dragging down the overnight trading and intraday Shanghai aluminum trend
to a certain extent.
It is expected to continue to break the 10-day moving average downward, and it is necessary to continue to pay attention to the long-short situation and the operation of
alumina at home and abroad.