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This week's Shanghai aluminum index first fell and then rose, Monday price affected by the market sentiment fall, the price fell sharply, Tuesday morning after the opening continued to fall to 15615 yuan bottomed out rebound, Wednesday began the price continued to rise, the highest rush to 16700 yuan, Friday price adjustment, a sharp low opening after making up for the gap at 16200 yuan, after which the rebound
.
This week closed at 16,350 yuan, up 300 yuan, or 1.
86%.
In terms of external trading, this week's LME aluminum week in March fell slightly, Tuesday price to $2020 after rebound, continuous close out of the middle Yang line, Thursday sharply rushed up to $2112 after pressure to fall, Friday prices slightly rebounded to form an anti-package
.
By the time of writing, it closed at $2,081.
5, up $37.
5, or 1.
83%
for the week.
In terms of the market, this week continues to be affected by off-season factors, spot aluminum discount continues to maintain above the hundreds, affected by the abundant market supply, Monday delivery day discount narrowed but difficult to
flatten.
After the spot price correction on Tuesday, the shippers were more active, but the middlemen and downstream multi-price purchases, and the transaction still did not improve
.
Since Wednesday, aluminum prices have jumped, downstream buying up not buying down mentality reflected, procurement has increased, the market is generally more optimistic about the future market, and the trading situation has improved
significantly.
On Friday, after the pullback in aluminum prices, the purchase demand was high, and the current aluminum quotations fell significantly, but the holders still have considerable confidence in the future market, the asking price appears firm, and the downstream is also bullish, so there is a willingness to take advantage of the low absorption, and then the futures pick up after the purchase is more increased, and the overall market performance is ideal
.
In terms of news, the nonferrous metal market fluctuated sharply during the week, and some bears chose to leave the market near the weekend to avoid risk due to concerns about the stimulation of supply-side reform news, making Shanghai aluminum show a pattern
of reducing positions to the upside.
However, the later supply-side policy will come one after another, illegal production capacity still needs to be deified, superimposed on the "2+26+3" winter heating season environmental protection production restrictions, electrolytic aluminum will be in short supply in the fourth quarter, and the overall price of aluminum will still maintain an upward trend
.
The Zhou K Shanghai Aluminum Index ran along the BOLL upper band, the price fluctuated widely during the week, KDJ gold cross entered the overbought area, MACD gold cross.
On the daily K, MACD gold cross but lack of upward momentum, KDJ gold cross is facing the risk of falling, below touching the 5-day moving average of 16150 yuan support, short-term prices may continue to maintain a strong shock operation
.
