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Today's Shanghai aluminum main contract 1712 contract under pressure decline, intraday trading at 16605-16290 yuan / ton, the end of the day closed at 16350 yuan / ton, down 0.
73%, the current Shanghai aluminum is still running in the oscillation finishing platform built for more than a week, the performance is weaker than Lun aluminum and other base metals
.
At the same time, the positive price difference between Shanghai aluminum 1711 and 1712 contracts remained flat to 85 yuan / ton, maintaining a positive arrangement
of near low and far high.
In terms of external trading, Asian Lun aluminum around 2140 US dollars / ton around a narrow range, the rebound is slightly weak, of which 3 months Lun aluminum trading at 2149-2130 yuan / ton, up 0.
14% from yesterday to 2139 US dollars / ton, its performance is weaker than other base metals, showing that aluminum prices rose relatively weakly
.
On the macro front, the Asian dollar index extended its rally and is now trading around
93.
39.
In addition, the US New York Fed manufacturing index came in at 30.
2 in October, the highest since September 2014, compared with 20.
5 expected and 24.
4
previously.
In terms of aluminum market information, data from trading company Marubeni Corp showed that aluminum inventories at Japan's three major ports were 275,900 tons at the end of September, down 2.
4%
from August.
In terms of the market, on October 17, Shanghai aluminum trading concentrated 16050-16090 yuan / ton, the discount for the month was 200-190 yuan / ton, Wuxi transaction concentration was 16050-16090 yuan / ton, Hangzhou transaction concentration was 16060-16110 yuan / ton
.
Although the price of aluminum fell sharply, the inventory of aluminum ingots was large, the shipment of holders was stable, the price of aluminum fell to the early sixthousands, downstream enterprises increased procurement efforts at the dip, middlemen mainly received goods for the downstream, and the overall transaction was warmer
than yesterday.
During the day, Shanghai aluminum 1712 fell under pressure to 16350 yuan / ton, the performance is much weaker than Shanghai copper and Shanghai nickel, at present, Shanghai aluminum has not yet got rid of the oscillation trend, short-term long and short trading repeatedly
.
As domestic aluminum inventories continue to hit a new high, it will inhibit aluminum prices from rising further, it is recommended that Shanghai aluminum hold the oscillation operation idea, Shanghai aluminum 1712 contract can be sold high and low between 16250-16500 yuan / ton, and the stop loss is 100 yuan / ton
each.
