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Overnight Shanghai aluminum main force opened at 17130 yuan / ton, according to the law, the afternoon bulls increased positions into the last wave of climax, the period aluminum rushed up 17250 yuan / ton, a new high in nearly 6 years, the high profit of the bulls, the main force of Shanghai aluminum fell, the low recorded 16860 yuan / ton, the bulls closed the mood gradually subsided, Shanghai aluminum small recovery to close at 16980 yuan / ton
.
The trading volume decreased by 476,000 lots to 330522 lots, and the position volume decreased by 10,964 lots to 470726 lots
.
From the long-term perspective of the heating season, waiting for other governments' statements and plans for the heating season, Shanghai aluminum still has upside
.
Intraday, the Fed's hawkish statement pressure, bulls' profit taking will continue, and aluminum will fall further, but the heating season is ahead of schedule and stricter than expected deterrence, supporting the main force of Shanghai aluminum, Shanghai aluminum first suppressed and then rose, it is expected to run 16800~17050 yuan / ton
within the day.
Spot discount 270~230 yuan / ton
.
In terms of the market, on the same day, the spot price of SMM A00# aluminum was 16350 yuan / ton, up 70 yuan / ton from the previous day, and the discount was 190 yuan / ton compared with the near-month contract.
In terms of news, IAI data shows that global primary aluminum production in August fell month-on-month and year-on-year, reflecting the obvious
effect of China's capacity reduction.
Jiaozuo City began to stagger production ahead of schedule, which meant that nearly 20,000 tons of electrolytic aluminum and 113,000 tons of alumina additional production were reduced
.
The move in Jiaozuo City triggered more expectations
of early production restrictions.
The production limit exceeded expectations, which also made the price increase progress advance, and the short-term price or high volatility after the soaring rise, but the upward trend did not change
.
Operationally, it is recommended to maintain the bullish thinking and pull back to buy
.
