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On Friday, the Shanghai aluminum main 1912 contract opened at 13850 yuan / ton, the overall performance after the opening first suppressed and then rose, the morning opening after the shock downward, the afternoon opening to the night session, Shanghai aluminum by the London aluminum higher boost, reverse the decline and turn upward, and finally closed at 13850 yuan / ton, flat from the daytime open
.
The trading volume decreased by 7,640 lots to 94,144 lots, and the position volume decreased by 2,738 lots to 235,000 lots, mainly
short positions.
It is expected that the main shock of Shanghai aluminum will run at 13750-13850 yuan / ton within the day, and the spot premium will be 80-100 yuan / ton
in the month.
The AOO aluminum ingot price in East China was 14,020 yuan / ton, unchanged
.
Last week, the domestic aluminum inventory fell by 21,629 tons to 294837 tons, a decrease of about 6.
8%, and the recent decline in domestic and foreign inventories provided support for aluminum prices.
Last week, Shanghai aluminum generally maintained a narrow range, and the price center of gravity was still around 13800
.
Electrolytic aluminum fundamentals currently lack of trend market inducing factors, supply side in the third quarter of concentrated production reduction, since the beginning of the year of the total reduction volume has exceeded the total amount of new production and resumption of production, after the National Day aluminum ingot social inventory continued to decline, has approached the 800,000 tons of mark
.
However, there are no obvious bright spots on the consumption side, and the volume of aluminum ingots is basically the same as the trend of the previous year, and the performance of the main downstream consumption areas is relatively flat
.
In the lack of speculation material, Shanghai aluminum is expected to be difficult to get rid of the volatile market in the short term, and the price may run between
13600-13900.
