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Today's Shanghai aluminum main month 1702 contract opened at 13210 yuan, intraday high 13375 yuan low 13100 yuan, and closed at 13165, down 110 yuan / ton
from the previous trading day.
Due to the gradual arrival of Xinjiang aluminum ingots and imported aluminum ingots, inhibiting the trend of aluminum prices, Shanghai aluminum fell sharply today, and it is expected that short-term aluminum prices will continue to fluctuate in the short term, but the space for deep decline in the future market may be limited
.
At present, although the macroeconomic data is better than expected, but affected by the continuous increase in domestic aluminum ingots, the market transaction is more cautious, when the demand is weak, the source of goods circulating in the market needs a certain amount of time to digest, and the price trend of spot aluminum ingots continues to weaken
.
However, at present, the cost of alumina is rising, and affected by the blackout of the Portland smelter in Australia of Alcoa last Friday, it is expected that aluminum prices have little room to fall, and will fluctuate
in the range in the short term.
Market: Today's Shanghai Nonferrous Metals Trading Center (SME) spot aluminum quotation in the morning at 13670-13710 yuan / ton, compared with the previous decline today has been amplified, today down 250 yuan / ton, the premium is b40-0, with the futures price fell sharply, spot into a discount state
.
The spot aluminum index of the Shanghai Nonferrous Metals Exchange Center was at 13797.
45 points, down 250 points
from the previous session.
Due to the weakening of demand, a large number of inventory on the market can not be converted, and spot aluminum ingots have arrived one after another, inventory has a slow increase trend, holders ship a lot, the spot aluminum market into the discount market, downstream and buyers bearish mentality began to turn thick, the receiving situation is general, the overall market transaction is soft
.
The technical level continues to maintain the bias of space, London aluminum today continues to double dead cross, the price below all short-term moving averages, today again attack BOLL mid-track failure, short-term may be a downward adjustment risk, the $1700 integer mark will be tested
again.
Aluminum will still fluctuate
slightly above $1700.
Shanghai aluminum main MACD dead fork continues to open, KDJ high dead cross diverges downward, recent K-line chart close long upper shadow, BOLL medium rail 13700 yuan after a long attack, began to turn down, while Shanghai aluminum main force continued to increase positions downward, the price will continue to fall, to stabilize
around 13,000 yuan.
