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On Friday, the main contract of Shanghai aluminum 1905 opened at 13605 yuan / ton
in the morning.
After the opening, Shanghai aluminum maintained a narrow range of volatility low touched 13585 yuan / ton, in the afternoon because Premier Li's speech mentioned that the tax reduction time was April 1, Shanghai aluminum volatility intensified, the short flat into the high once touched 13725 yuan / ton, then Shanghai aluminum fell back, above all moving averages to maintain range oscillation, the end of the session closed at 13665 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1901.
5 US dollars / ton
.
During the Asian session, Lun aluminum fluctuated with the sharp fluctuation of domestic Shanghai aluminum inventory, touching 1900 US dollars / ton at a low level, and as of 15:00 Lun aluminum reported 1910 US dollars / ton
.
After entering the European session, Lun aluminum continued to fluctuate upward, touching a high of $1914 / ton, and as of 17:08, Lun aluminum was reported at $1910.
5 / ton
.
It is expected that due to the weakening of the US index, Lun Aluminum will continue to maintain a strong trend
.
In terms of the market, the first trading stage of aluminum gradually rose, and after the release of the news of the tax cut in the second trading stage, the price of aluminum rose by more than 100 within 2 minutes, and then rose and fell
sharply.
In the first trading stage, the transaction price in Shanghai was between 13780~13800 yuan / ton, and the discount of the month was 20~10 yuan / ton, the transaction price fell slightly compared with the previous day, the transaction price in Wuxi was between 13780~13800 yuan / ton, and the transaction price in Hangzhou was between
13780~13800 yuan / ton.
The morning market is actively traded and most of the people receive goods
.
With the release of tax reduction news, market transaction activity fell rapidly, quotations showed a chaotic situation, concentrated on the current month's plate discount 70 ~ 20 yuan / ton, the price in 13820 ~ 13870 yuan / ton, but because the price rise is too fast, superimposed on the delivery date of the current month's contract, at this time the market wait-and-see sentiment is strong, there is no market, almost no transaction
.
In the morning, downstream manufacturers considered the demand for weekend stocking, and traded in the price range of 13780~13800 yuan / ton, and then the price rose sharply and returned to light
.
Due to the official confirmation that the tax reduction will be implemented on April 1, ahead of market expectations, the 1904/1905 contract spread closed to 40 yuan/ton contango structure, while the 1903/1904 contract spread widened to 190 yuan/ton back structure
.
It is expected that due to the impact of the announcement of the tax reduction time, the upward movement of Shanghai aluminum can slow down and maintain range volatility
.
