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On the last trading day before the holiday, the main 1911 contract of Shanghai aluminum opened at 14415 yuan / ton
in the morning.
Shanghai aluminum maintained a high level of volatility during the day, Shanghai aluminum fluctuated relatively sharply before noon, touching 14405 yuan / ton at the opening low, Shanghai aluminum strengthened before noon, touching 14435 yuan / ton
at a high level.
In the afternoon, the fluctuation of Shanghai aluminum decreased, maintaining a narrow range above all moving averages, closing at 14425 yuan / ton
.
After entering September, the social aluminum ingot inventory continued to decline as expected, and by Thursday it had fallen below 1 million tons, and at the same time, due to the supply pressure brought about by the resumption of electrolytic aluminum and alumina production after November, a strong and far weak back structure was formed
.
In terms of external trading, Lun aluminum opened at $1820 / ton in the morning, above
all moving averages.
During the Asian session, Lun aluminum continued to seek an upward breakthrough, and as of 15:00, Lun aluminum was reported at 1823 US dollars / ton
.
After entering the European session, Lun Aluminum briefly extended its rally and continued to seek an upward breakthrough, touching $1826 / ton
at a high level.
After being blocked, the high quickly retreated, and the low touched 1812.
5 US dollars / ton
.
As of 17:44, Lun aluminum was quoted at $1815/ton
.
In the spot market, aluminum fluctuated upward in the morning of the month, and was dominated
by range fluctuations in the later period.
In the morning, the transaction price of Shanghai Wuxi market was between 14530-14540 yuan / ton, the opposite plate discount 20 yuan / ton to near Pingshui, after 10:30 the spot price concentrated between 14510-14530 yuan / ton, the contract discount of the month between 30-10 yuan ton, the spot price increased by about 70 yuan / ton from the previous day, and the spot price in Hangzhou was between
14550-14570 yuan / ton.
Cargo holders are very active in shipments, but due to the large monthly difference in the aluminum plate and the low willingness of traders to stock up near the Mid-Autumn Festival, there are not many goods, and buyers and sellers show a situation
of receiving less and more out.
Although downstream manufacturers have a small amount of stocking, the overall stock sentiment of the Mid-Autumn Festival holiday is not obvious, and the purchase volume is not as good as the market expectation
.
The overall transaction in East China is average
.
In the afternoon, the market transaction price was around 14500-14510 yuan / ton, and the opposite plate was discounted around 20 yuan / ton, only a small number of transactions between traders, and the downstream was light
.
Consumption before October turned around as expected, coupled with the rapid decline in inventory data, Shanghai aluminum will remain strong and volatile
.
It is expected that the center of gravity of Shanghai aluminum will continue to move upward next week, and the main contract 1911 runs at 14350-14650 yuan / ton
.
Try to increase the dip on the front-month contract and the short-dip on the far-month contract
.
