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Overnight Shanghai aluminum opening price was 13980 yuan / ton, after the opening once fell unilaterally, short positions superimposed long covering, the plate down to 13935 yuan / ton.
, the end of the day long and short sides are evenly matched, the price shock range narrowed, and finally closed at 13940 yuan / ton, the position decreased by 1932 hands to 216,000 hands, mostly long positions to close
.
Due to the balance of forces between the long and short sides of the micro-disk, it is expected that the main force or shock of Shanghai aluminum in the day is the mainstay, running at 13900-13960 yuan / ton, and the spot premium is about
70 yuan in the month.
The AOO aluminum ingot price in East China was reported at 115090 yuan / ton, up 60 yuan
.
Worries about the global economic outlook remain, downstream demand performance is weak, and the upward pressure on aluminum prices has not abated; At present, the domestic destocking trend continues but the decline performance slows down, the 4th electrolytic aluminum social inventory decreased by 12,000 tons from last Thursday to 858,000 tons, it is expected that today's Shanghai aluminum narrow range shock, spot aluminum prices or rise or fall little
.
On the demand side, the decline in aluminum ingot inventories slowed down this week, with electrolytic aluminum spot stocks of 858,000 tons on November 4, down 12,000 tons from October 31 before the holiday, and the consumption of downstream aluminum processing plants will probably weaken
after entering November.
With the release of supply-side production capacity, the medium-term short-selling idea remains unchanged, and the leaders of the two high-level economic and trade consultations between China and the United States have reached a consensus in principle on the recent call, and a better short-selling opportunity is expected to appear under the improvement of macro sentiment.
