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Tuesday Shanghai aluminum main contract 1912 morning opening price of 13810 yuan / ton, after the opening of the short position to reduce the exit, the plate opened an upward channel, the bears once tried to increase the position, but unexpectedly encountered the bulls blocked, the back plate in the bulls strong position 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
.
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
.
Intraday spot premium is relatively high, the holder does not ship much, and the price is relatively high, I heard that a large customer released a long order and spot is not much and the planned purchase volume is not full, the middleman is still active, but the trading with the holder is more
deadlocked.
As the downstream on Friday is considered to have a small amount of stocking 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
.
At present, the pessimistic expectations of global macro policy have weakened, although there is still greater uncertainty in the fourth quarter, but as the US and Australian Reserve Bank competes for "three consecutive declines" and then presses "pause", while China's macro policy year-end stability maintenance hedging expectations strengthen, the market is looking forward to the meeting between Chinese and US leaders in November, providing a neutral environment for copper and aluminum.
