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On Thursday, after a slight adjustment to the opening of the main 1711 contract of Shanghai aluminum, it once rushed up to 17110 yuan, and then fell to 16705 yuan under pressure again, and the price maintained a narrow range in the afternoon, and finally closed at 16790 yuan, up 15 yuan, or 0.
09%.
Index holdings decreased by 2,208 lots to 1.
088 million lots, and trading volume shrank to 1.
328 million lots
.
Externally, the LME aluminum March contract opened volatile and rose at $2,187, then the price came under pressure to $2,157, and although it rebounded to $2,174.
5 at the end of the day, it closed at $2,163 at the end of the Asian market, down $25, or 1.
14%.
In terms of the market, the trading level of the mainstream trading hours of the spot market is general, the quotation of the Yangtze River remains firm, the holders continue to adjust the price to report a large discount dump, the spot aluminum premium fell to C290-C250 yuan / ton, some traders are bullish after the market presses down the discount to receive goods, the downstream aluminum price continues to fear the height, the trading is slightly better than the previous day, but the overall buying situation continues to be weaker than the overall level
last week.
In terms of news, the current aluminum market long and short sides focus on the inventory inflection point coming, the environmental protection storm under the market is expected to reduce downstream demand, generally showing a fear of heights, social inventory has also risen all the way, SMM statistics of social inventory increased by 21,000 tons compared with last week, aluminum market in the overall empty atmosphere of the market, back to below 17,000, short-term prices or repeated
.
Shanghai aluminum still maintained around 17,000 yuan in the early session under the support of multiple moving averages, but the intraday profit concentration fell quickly to 16,500 yuan, basically giving up the recent gains
.
The continuous increase in the inventory of social aluminum ingots has made the market afraid of heights, and the willingness to make profits at a high level has begun to emerge
.
On the technical side, the main KDJ golden cross and MACD dead cross of Shanghai aluminum, the price fell sharply to close the mid-black line after soaring, short-term or above the platform in the early stage, the overall easy to rise and fall
.
