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Overnight, Lun aluminum opened at 1955 US dollars / ton, the Asian trading session first rose and then declined, rushed up to 1963 US dollars / ton intraday high and then difficult to rise, the second half of the Asian market fell near the low
of 1955.
5 US dollars / ton 。 After entering the European trading session, Lun Aluminum tried to test again, but similar to the Asian market, it was blocked at 1962 US dollars / ton, both upsides were hit, market traders' confidence was frustrated, superimposed on the pressure of the high level of the US index, Lun aluminum has since opened a volatile downward road, sliding all the way down to the lowest level of the day of 1937 US dollars / ton, falling in the lower band of the Bollinger Band, the performance stabilized at the end of the day, and closed at 1937 US dollars / ton
yesterday.
This morning, the US dollar index recorded the highest level since the beginning of August last year, and it is difficult to achieve an upward breakthrough under full pressure on the outer metal, and it is expected that today's London aluminum operating range is between 1920~1950 US dollars / ton
.
At present, it is in the game between high-cost production capacity reduction and new production capacity launch, on the one hand, the domestic aluminum production cost has been higher than the aluminum price for a long time, resulting in an increase in the willingness of aluminum enterprises to reduce production; On the other hand, the total primary aluminum production capacity in the second half of the year maintained an increase month-on-month, and it is expected that new production capacity will still be concentrated in the fourth quarter, in view of the high cost or slow down the launch speed
.
In addition, the Rusal sanctions were extended again, putting pressure on overseas aluminum prices to indirectly drag down Shanghai aluminum
.
On the whole, the market is more sensitive to the production reduction of aluminum enterprises, so under the premise of no new production reduction news, it is recommended that Shanghai aluminum mainly
wait and see.
