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On Friday morning, Shanghai aluminum flat opened at 12180 yuan / ton, the bulls continued to exert force at the beginning of the session, Shanghai aluminum upward broke through the 5-day 40-day moving average resistance, touched the 10-day moving average touched 12245 yuan / ton, narrow finishing after the short into the air into the flat, Shanghai aluminum bottoming pierced the 5-day line support touched 12175 yuan / ton, and then the long and short game under the Shanghai aluminum repair part of the decline closed at 12205 yuan / ton, temporarily holding the 5-day moving average
.
Shanghai aluminum temporarily bottomed out, the upper moving average is full of resistance, pay attention to the non-farm data and the continuous competition between long and short for the 5-day moving average, bulls or continue to seek a breakthrough
.
In terms of the external market, Lun aluminum opened at 1616 US dollars / ton in the morning, and the Asian market before the afternoon London aluminum around the daily moving average narrow range, in the afternoon continued to probe, into the European trading session volume diving low touched 1607 US dollars / ton, a little finishing after the upward repair of some decline, the daily average resistance is strong, as of 16:31 Lun aluminum recorded 1611.
5 US dollars / ton
.
The $1600 integer mark of London aluminum has not yet escaped the bearish pressure
.
In terms of the market, aluminum futures rose before noon in the month and then fluctuated
.
Shanghai transaction concentration 12690-12710 yuan / ton, the monthly premium 170-180 yuan / ton, Wuxi transaction concentration 12690-12710 yuan / ton, Hangzhou quotation concentration 12730-12750 yuan / ton
.
Shanghai Wuxi inventory increased slightly, aluminum futures rose, holders shipped positively, Shanghai downstream demand was still weak, and transactions did not pick up; Wuxi downstream weekend stocking, receiving strength compared with yesterday increased, aluminum recently fell sharply and soared, middlemen cautiously waited, willingness to receive goods slightly hesitant, the transaction is mainly concentrated in the downstream just demand
.
In the late afternoon, aluminum shock sorting, downstream enterprises completed the stocking task in the afternoon, and traders replenished a small amount in the afternoon, and the transaction was concentrated at 12690-12700 yuan / ton
.
In terms of news, recently, the State Council issued the "Work Plan for Reducing the Cost of Real Economy Enterprises", which put forward specific measures to reduce the cost of real economy enterprises from eight aspects, and broke them down to ministries and commissions
.
Supply-side structural reform is strong to tackle tough problems, "three to one reduction and one supplement" and then the next city
.
In the future, 10 industries will be transformed and upgraded, cost-reducing and efficiency enhancement plans will be introduced one after another, and non-ferrous metals are one of
them.
Intraday aluminum prices rebounded
under the pressure of profit orders.
Now that we have entered September, although the rebound in market demand is not large for the time being, it is expected that the increase in demand during the peak season will also appropriately increase the low inventory; According to the recent trend, it is expected that there is still some room
for rebound in short-term aluminum prices.
