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Market review, base metals were mixed on Friday, indicating that aluminum prices were volatile, and long and short trading was cautious
.
Among them, Shanghai aluminum volatility was weak, trading at 13880-13985 yuan / ton during the day, and closing at 13900 yuan / ton at the end of the day, down 0.
39%
on the day.
In the external market, as of 15:30 Beijing time, the three-month Lun aluminum was reported at 1984.
5 US dollars / ton, down 0.
18% on the day, and the upper pressure level was concerned about 1980.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13860-13870 yuan / ton, the discount of the month is 30-20 yuan / ton, the transaction price of Wuxi is concentrated 13860-13870 yuan / ton, and the transaction price of Hangzhou is concentrated 13880-13890 yuan / ton
.
The intraday spot transaction price narrowed slightly on the month's premium premium, the downstream was basically purchased on demand, middlemen and traders were still active, and some large households maintained the rhythm of acquisition, and the overall transaction was acceptable
.
On the news front, the Asian dollar index was volatile and now trading around 96.
859, as the Fed signaled that the economy was strong and kept it on track to raise interest rates in December, and expected "further gradual rate hikes".
In terms of industry, the national electrolytic aluminum output in October was 3.
114 million tons, an increase of 3.
5% year-on-year, and China's total electrolytic aluminum output in the first 10 months of this year was 30.
166 million tons, a year-on-year decrease of 0.
8%.
The Shanghai aluminum shock is weak during the day, and the overall performance of the current aluminum fundamentals is still good, but due to the recovery of the US dollar index, the nonferrous metal is generally under pressure and the rebound is weak
.
Technically, the MACD indicator has a tendency to form a golden cross at a low level, but the futures price is still under pressure below the moving average combination, and the short-term or continuation of the shock pattern
.
Operationally, it is recommended that the Shanghai aluminum 1901 contract sell high and sell low between 13850-14100 yuan / ton, and the stop loss is 100 yuan / ton
each.
