November 26 aluminum market brief comment

On Monday, the main contract of Shanghai aluminum 2001 opened at 13850 yuan / ton
in the morning.
The bulls took the initiative to increase their positions before noon, and the Shanghai aluminum opened rapidly upward and touched a high of 13875 yuan / ton
.
The high led the bears to enter, and after a short long and short game, the weakening of Shanghai aluminum quickly fell below the 40-day moving average to near
the 5/20-day moving average.
In the afternoon, Shanghai aluminum remained volatile, touching 13800 yuan / ton at a low level and closing at 13805 yuan / ton
.

Nanchu Foshan aluminum ingot quotation 13970-14030 yuan, the average price of 14000 yuan, up 20 yuan, up 35 yuan for the month, the circulation source is tight, downstream procurement is flat, supply and demand are weak, and the overall trading performance is weak
.
The mainstream transaction price is 13990-14000 yuan in the month, which is -10~0 yuan higher than the average price of the South Reserve, and 13970-13990 next month, which is 13970-13990 higher than the average price of the South Reserve
.

Nanchu Wuxi aluminum ingot quotation 14040-14080 yuan, the average price of 14060 yuan, up 20, the premium for the month 90
.
Yangtze River: 14050-14090, 14070 up 30
.
The cargo holders are actively shipped, the market circulation is abundant, the receiver inquires about the source of goods, and the overall transaction is average
.
The transaction price of spot monthly tickets is concentrated at 14050-14060 yuan, which is -10~0 yuan higher than the average price of Nanchu Wuxi
.

Although the weekly inventory still maintained a decline of 18,000 tons, it still did not give bulls confidence, and the fundamentals of Shanghai aluminum still did not show a clear direction, and the favor of funds continued to decline
.
Shanghai aluminum is expected to run between
the 10-day average and the 5/20-day moving average.