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On Thursday, the performance of the Shanghai aluminum main 1908 contract first fell and then rose
.
Open at 13915 yuan / ton in the morning, the opening shadow briefly touched the intraday high of 13920 yuan / ton, the afternoon shock slipped to 13865 yuan / ton intraday low, falling below the daily average, but due to the improvement of the macro atmosphere in the past two days, aluminum prices fell back below there is still some support, Shanghai aluminum then from the low began to turn upward, back to the high level of around 13910 yuan / ton, and finally closed at 13910 yuan / ton, up 55 yuan / ton, up 0.
4%.
In terms of external trading, Lun aluminum jumped high at 1785 US dollars / ton in the morning, climbed above the daily moving average two hours after opening, and then slowly rose all the way during the day, the European trading stage tested the highest level of the day of 1805 US dollars / ton, but after crossing the 1800 US dollars / ton mark continued to upward pressure is greater, Lun aluminum in the 1802 US dollars / ton line after a short hovering slightly down, the low touched 1796 US dollars / ton, as of 18:10, Lun aluminum closed at 1801 US dollars / ton, closed at the small Yang line, recorded three consecutive Yang, The center of gravity jumped above the 5/10/20 daily moving average, up $22.
5/ton, or 1.
26%.
In terms of the market, the opening performance of aluminum futures in the month was volatile, and the second trading stage stepped down the ladder to continue to maintain narrow fluctuations
.
Before noon, the trading price of the Shanghai market was concentrated between 13890-13910 yuan / ton, the flat water ~ premium water on the plate was 20 yuan / ton, a large household led a small amount of spot traded around 13920 yuan / ton, Wuxi market price concentrated around 13900-13920 yuan / ton, Hangzhou spot price around 13940-13960 yuan / ton
.
In the first trading stage, the market trading was active, with more shippers than receivers, and aluminum prices in the second trading stage slipped, and the transaction activity of middlemen and traders converged
significantly.
Downstream in the case of aluminum prices rising for two consecutive days, continue to maintain a wait-and-see attitude, not eager to prepare for the weekend, and still purchase
according to just needs within the day.
Industry News:
1.
In 2019, due to changes in supply and demand in the international market, aluminum prices have decreased
significantly.
2.
There are many reasons for the formation of different levels of aluminum consumption in various countries, including the stage of economic development, industrial structure, regulations and standards, consumption levels, consumption concepts, consumption habits, etc
.
Due to the dovish signal released by the Fed's interest rate decision, the market trading atmosphere turned good, and aluminum prices rose slightly in the state of temporary stability of fundamentals, but considering that there are still bearish factors in the supply and demand side in the future, it is expected that the upper space is limited, and continue to pay attention to the impact of long and short positions changes and related macro news on market sentiment
.
