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On Thursday, base metals generally fell, indicating that aluminum prices continued to fall, and long and short trading was cautious
.
Among them, Shanghai aluminum continued to fall, trading at 13840-14025 yuan / ton during the day, and closing at 13870 yuan / ton at the end of the day, down 1.
11%
on the day.
In terms of external trading, as of 15:33 Beijing time, the three-month Lun aluminum was reported at 1960.
5 US dollars / ton, up 0.
26% on the day, and the upper pressure level was concerned about 2000 US dollars / ton
.
In terms of the market, the spot price transaction of Shanghai aluminum is concentrated in 13790-13810 yuan / ton, the discount of 40-30 yuan / ton for the current month, and the discount of 80 yuan / ton for the next month, Wuxi transaction concentration is 13790-13810 yuan / ton, Hangzhou transaction concentration is 13830-13840 yuan / ton
.
Intraday aluminum fluctuated greatly, fell after the opening, and entered the second trading stage The price began to stabilize
.
Due to the large decline in prices for two consecutive days, the downstream began to take a wait-and-see attitude towards the price and basically purchase on demand, while some middlemen considered receiving goods more actively for value preservation, and the overall transaction was general, and there were no major highlights
.
In terms of news, the Asian market dollar index fell back from its high, now trading around 96.
689, due to the decline in Brexit negotiation uncertainty, European currencies rebounded, and the dollar index showed a high retreat
.
In terms of sectors, China's Caixin manufacturing PMI 50.
1 in October vs 50 expected and 50
prior.
In October, China's manufacturing sector was basically flat month-on-month, with output largely unchanged and total new business increasing
only slightly.
Weak sales, partly due to weaker external demand, saw export sales decline
for seven consecutive months.
Shanghai aluminum continued to decline during the day, because the price fell for two consecutive days, the downstream began to take a wait-and-see attitude towards the price, basically purchasing on demand, while some middlemen considered receiving goods more actively for value preservation, and the overall transaction was general, and there were no major highlights
.
On the technical side, the RSI indicator value continues to move down, and the futures price has fallen below the previous low value, at the lowest level of the year, and the overall trend of Shanghai aluminum is still weak
.
Operationally, it is recommended that the Shanghai aluminum 1812 contract can be short around 13950 yuan / ton, and the stop loss refers to 14050 yuan / ton
.
