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Shanghai aluminum opened at 13860 yuan / ton on Friday morning, the early long and short game under the Shanghai aluminum continued to try to break through the 5-day moving average resistance after unsuccessful, bulls concentrated on leaving the market and waiting, Shanghai aluminum under pressure fell low to touch 13715 yuan / ton, the 10-day moving average began to show support, and then the bears controlled the aluminum price wide range below the daily moving average, before the afternoon short cover Shanghai aluminum trading center of gravity slowly moved up, a small number of bulls at the end of the session tried to enter, aluminum prices continued to repair the decline shock closed at 13825 yuan / ton, The volume decreased to 163,000 lots, and the open position increased by 898 lots to 220422 lots
.
It is unlikely that the short-term Shanghai aluminum will continue to unilaterally trend, and it is expected to continue to maintain high volatility
.
In terms of the external market, in the morning, Lun aluminum opened at 1767 US dollars / ton, at the beginning of the session followed the rapid discharge of domestic Shanghai aluminum, the low touched 1752.
5 US dollars / ton, before the afternoon Lun aluminum repair part of the decline under pressure below the daily moving average narrow finishing, the afternoon low rushed back down, into the European trading session Lun aluminum low rebound, the low recorded 1743.
5 yuan / ton, as of 18:00 Lun aluminum 1748 US dollars / ton, the daily average pressure performance is relatively strong, it is expected that Lun aluminum will continue to try to break through the daily moving average, but the center of gravity of the transaction or will move down again, Test the support of the 10-day moving average
.
In terms of the market, aluminum futures fluctuated
around the daily moving average before noon of the month.
Shanghai transaction concentration is 14620-14630 yuan / ton, the monthly premium is 280-390 yuan / ton, Wuxi transaction concentration is 14610-14620 yuan / ton, Hangzhou transaction concentration is 14630-14690 yuan / ton
。 On Friday, the cargo holder expects the downstream stocking demand to increase, panic dumping sentiment converged, shipments are stable, the quotation does not make a large adjustment with the fluctuation of aluminum in the period, some imported Rusal entered the Shanghai market, the quotation is slightly lower than the market, it is reported that the smelter actively arranges transportation, the middleman is worried about the arrival volume next week to hit the market price, still maintain a cautious mood step by step, low entry into the market, downstream rigid demand, bargain hunting positive stocking, the overall transaction is stable and rising
.
In the late afternoon, aluminum fluctuated in a narrow range of the month, and the Shanghai market maintained a quotation of 14610-14630 yuan / ton, and a small amount of trading was carried
out in the afternoon.
At present, the transportation tension continues, and the current aluminum inventory in the Guangdong market remains at a low level, but because the price of aluminum in Guangdong is significantly higher than that of nearly 1,000 yuan in Shanghai, resulting in manufacturers abandoning the purchase of aluminum ingots in the local market and turning to the Shanghai market to purchase goods, and the high price difference has also attracted many traders to ship south, it is expected that the future Guangdong aluminum inventory will increase, and the price will continue to be under pressure
.
