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Overnight, the opening price of Shanghai aluminum was 14285 yuan / ton, after the opening of the bears closed their positions one after another, Shanghai aluminum rushed up to 14340 yuan / ton, and finally took a profit short, Shanghai aluminum slightly pulled back to close at 14325 yuan / ton
.
Overnight, Shanghai aluminum rose 35 yuan / ton, or 0.
24%, and the position decreased by 2760 lots to 323568 lots, mostly short positions
.
The daily candlestick steps above the moving average group, above the middle band of the Bollinger band and climbs
upward.
Shanghai aluminum supply and demand side has not changed much, in September and October demand recovery expectations, the shock is strong, in addition to today's SMM statistics aluminum ingot inventory changes, it is expected that today's operating range is 14280-14350 yuan / ton, spot liter discount or flat water - 40 yuan / ton
.
On August 28, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Network was reported at 14350 yuan / ton, up 70 yuan; The price of AOO aluminum ingots in East China was 14,360 yuan / ton, up 60 yuan
.
In the context of the ongoing trade dispute, the global economic development prospects are not good, Alcoa lowered the global aluminum demand growth forecast to 1.
25% ~ 2.
25%, lower than the forecast of last quarter, aluminum prices are under pressure, it is expected that today's spot aluminum prices or rise or fall little
.
Yesterday's Shanghai aluminum intraday night trading volatility higher, the main contract closed at 14325
.
The logic of production cuts is still the main concern of the current market, and the bulls are on the strong side
.
The Weiqiao and Xinfa accidents caused more than one million tons of production capacity to stop production, and the supply reduction is expected to accelerate the destocking process of aluminum ingots during the year, but short-term consumption is still weak, aluminum ingot shipments remain low, and the inventory of aluminum ingots and aluminum rods remains volatile
overall.
