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Trade Service
Overnight, the Shanghai aluminum main company 1901 contract opened at 13780 yuan / ton
.
After the opening, the bears continued to avoid the market, Shanghai aluminum touched 13890 yuan / ton at a high level, the high led to many bulls to profit and leave the market, Shanghai aluminum shock downward, at the end of the session Shanghai aluminum fell below the 20-day moving average low touched 13765 yuan / ton, after the short closed aluminum price shock rebounded to close at 13810 yuan / ton
.
In the evening, Shanghai aluminum mainly opened at 13800 yuan / ton, after the opening of some short-term bulls entered, Shanghai aluminum rose slightly and quickly profited out, after Shanghai aluminum around the 20 moving average for a narrow range oscillation, the end of the session closed at 13795 yuan / ton
.
After the G20 summit, the short-term easing of the Sino-US trade war is still the main factor affecting aluminum prices, but it has not reversed the fundamentals, and aluminum prices are still short
in the medium term.
It is expected that today's Shanghai aluminum operation is 13700~13850 yuan / ton, with a discount of 90~50
.
The mainstream transaction price increased by nearly 170 yuan / ton from last Friday, the market supply is more sufficient, although the holders maintain shipments, but because of the large price increase downstream in addition to on-demand procurement, there is little stocking, intermediaries are particularly active, because the spread widens to help its arbitrage, receiving goods is more active
.
On the whole, inventories continue to decline, alumina prices fall, or limited support for aluminum prices, heating season production restrictions are less than expected, and the supply side still puts certain pressure
on aluminum prices.
It is expected that Shanghai aluminum will fluctuate within
the day.
