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Thursday Shanghai aluminum main 1912 contract opened at 13945 yuan / ton in the morning, the opening from the high around 13955 yuan / ton fell back to a low of 13895 yuan / ton, and then around 13910 yuan / ton a narrow range of shock, because the past two days of the market trend is relatively firm, bears confidence is insufficient, in the afternoon choose to take advantage of the loss to the smallest reduction of positions exit, short positions to help aluminum prices along the 5-day moving average to climb higher, under pressure 13965 yuan / After a short hovering in the first line, it detected the intraday high of 13980 yuan / ton at the end of the day, and finally closed at 13980 yuan / ton, the center of gravity was basically the same as yesterday, up 25 yuan / ton, up 0.
18%, and the above still did not break through the 40-day moving average resistance, and the price difference with the 1911 contract of the month exceeded 200 yuan / ton
as of the close.
Shanghai aluminum narrow range volatility during the day, as of the close, the main 1912 cooperation closed up 0.
14% to 13975, up 20 from the previous trading day, the month contract rose strongly in the afternoon, indicating that the spot is slightly firm, short-term spot is expected to continue to rise, but the main contract is still under pressure below 14,000, and the difference between the month and the main force is more than 200 spreads, beware of falling back after delivery
.
At present, the overall consumption of the domestic market is weak, while exports are blocked and continue to decline, although the current output has not increased significantly, resulting in a downward trend in inventory, but with the acceleration of production capacity, output will gradually rise, and consumption gradually enters the off-season, the fundamentals will deteriorate
.
Prices are unlikely to fall sharply in the short term and favorable Sino-US trade negotiations, but in the medium term, under the gradual shift of supply from shortage to surplus, the downward pressure on prices is strong
.
Operationally, it is recommended to be
at high altitude and far moon.
