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On Monday, the main contract of Shanghai aluminum 1803 contract rushed back down, the fourth decline in the past five trading days, intraday trading at 14475-14260 yuan / ton, the end of the day closed at 14320 yuan / ton, down 0.
52% on the day, down 1.
07% from the intraday high of 14475 yuan / ton, indicating heavier
selling pressure above.
Shanghai aluminum continued the positive arrangement of near low and far high, in which the positive price difference between Shanghai aluminum 1803 contract and 1804 contract narrowed to 75 yuan / ton
.
In terms of external trading, Asian Lun aluminum fell slightly under pressure, of which 3-month Lun aluminum traded at 2215-2200 US dollars / ton, now closed at 2204 US dollars / ton, down 0.
47% per day, for the second consecutive day of decline, showing that short-term decline risks remain, and the technical support below focuses on the recent low of 2188 US dollars / ton
.
In terms of the market, on February 5, Shanghai aluminum trading concentrated 14090-14120 yuan / ton, the discount for the month was 120-110 yuan / ton, Wuxi transaction concentration was 14070-14110 yuan / ton, Hangzhou transaction concentration was 14140-14150 yuan / ton
.
Holders are actively shipping, spot discount expanding, aluminum in the near 11 o'clock period fell again, Shanghai holders are less willing to ship, the price adjustment range is smaller than Wuxi, Wuxi holders follow the price adjustment, close to the end of the year, middlemen are more cautious in receiving goods, downstream enterprises Spring Festival stocking gradually into the end, downstream on-demand procurement, the overall transaction has not improved
.
On the macro front, the Asian dollar index fluctuated in a narrow range around 89.
2, up 0.
09% to 89.
22 on a daily basis, basically maintaining the larger gains recorded on Friday, for the ninth consecutive day below 90, as the US non-farm payrolls data for January was stronger-than-expected, spurring the dollar index higher, focusing on the performance of the European and American service PMI in January
.
In terms of industry, data show that the total average cost of electrolytic aluminum fell by 1.
9% to 14,609 yuan
in January.
During the day, Shanghai aluminum 1803 fell under pressure to 14320 yuan / ton
.
Recently, Shanghai aluminum chose to break down, because domestic inventories continue to hit a new high, supply pressure increases, after the aluminum price chooses to break again, the short-term decline risk increases, it is recommended that the Shanghai aluminum 1803 contract can be backed by 14500 yuan / ton under the sky, the entry reference is 14400 yuan, the target is 14250 yuan / ton
.
