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Overnight, the Shanghai aluminum main 1912 contract opened at 13825 yuan / ton, the upper pressure level of 13840 yuan / ton line is more obvious, aluminum prices are difficult to break upward, and then the high soft fall to 13810 yuan / ton The line hovered slightly, and then there was no obvious upward trend in the evening, mainly range-bound, some bulls reduced positions at the end of the session, and the aluminum price was 13815 yuan / ton, The position increased by 1558 lots to 239,000 lots, the trading volume decreased by 69548 lots to 26712 lots, closed at the small black line, the center of gravity jumped below the 5-day moving average, still located in the lower band of the Bollinger Band, up 15 yuan / ton, or 0.
11%, because the upper 10/40 day resistance is large, it is expected that today's operating range is between 13750-13900 yuan / ton, and the spot premium is between
30-70 yuan / ton.
In terms of demand, although it is still in the peak consumption season, but the demand is general, the downstream recovery in the first week after the holiday is slow, focusing on observing the aluminum ingot destocking in the second week after the holiday, especially in September, the aluminum export data went down again, hitting the confidence of bulls, with the release of supply-side production capacity, the medium-term short-selling idea remains unchanged
.
However, the short-term aluminum price fell sharply, there was a technical rebound demand, and the Sino-US consultations made phased progress to improve macro sentiment, so it is not recommended to chase short in the short
term.
Yesterday's Shanghai aluminum main contract AL1912 opened low and went high, and continued to fluctuate and rebound
throughout the day.
Overnight, the US dollar index fluctuated weakly, U.
S.
crude oil prices continued to decline, and Lun aluminum first rose and then declined
.
In terms of spot, the quotation of Yangtze River non-ferrous metal aluminum ingots rose by 110 yuan / ton, and the average spot premium expanded to 35 yuan
.
From the perspective of the market, funds are flowing in, and the main long positions of the exchange have increased their positions slightly, and it is recommended to continue their positions
cautiously.
