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On Tuesday morning, the main force of Shanghai aluminum opened at 14305 yuan / ton, the center of gravity of aluminum rose slightly in the early afternoon, breaking through the 5-day moving average, market rumors that the National Development and Reform Commission held a meeting, will strictly implement the implementation of the work of cleaning up illegal production capacity in accordance with the policy node, the afternoon opening bulls entered the market shortly, aluminum prices quickly pulled up, the high recorded 14460 yuan / ton, the high caused the bulls to take profits, Shanghai aluminum fell back to close at 14375 yuan / ton
.
The trading volume increased by 40682 lots to 350822 lots, and the position increased by 7544 lots to 318970 lots
.
The main force of Shanghai aluminum broke through the 5-day moving average upward, and the 5/10-day moving average became sticky to form a bottom support, and the center of gravity of aluminum prices is expected to rise further, paying attention to the ability
to break through the resistance level of 14500 yuan / ton.
In terms of the external market, Lun aluminum opened at 1946 US dollars / ton in the morning, during the Asian session, it rose slightly before the afternoon, accelerated in the afternoon, and recorded a high of 1957 US dollars / ton, the Asian market ended in Shanghai aluminum falling, Lun aluminum rose weakly, gave up gains, fell back to the opening position, entered the European trading session, Lun aluminum inertia declined, the low recorded 1943 US dollars / ton, triggered a short closing rebound, intraday performance wide range shock, as of 17:42, Lun aluminum recorded 1951 US dollars / ton, pay attention to the effect of Shanghai aluminum on Lun aluminum belt, Aluminum tried to touch the $1960/ton integer mark
.
On the macro front, investors were encouraged by the results of the first round of the French election, which expected Macron to win, which would be beneficial to the French economy, risk appetite climbed, and non-ferrous metals stabilized
.
In addition, the recent China-style balance sheet reduction has attracted attention, and the capital in the domestic market continues to be tight, which inhibits the rebound space
of nonferrous futures prices.
In terms of the market, aluminum futures rose to around 14240 yuan / ton at the beginning of the month, and rose slightly to 14260 yuan / ton
at the end of the day.
Shanghai transaction concentration is 14110-14130 yuan / ton, the discount for the month is 140-120 yuan / ton, Wuxi transaction concentration is 14110-14120 yuan / ton, Hangzhou transaction concentration is 14130-14140 yuan / ton
.
Holders of stable shipments, the mainstream trading time, the period of aluminum narrow range oscillation, traders have limited room for operation, the recent period of aluminum sideways volatility, downstream enterprises stable procurement, the overall transaction to maintain stability
.
In the late afternoon, aluminum rose rapidly in the month, and the holders raised the price of shipments, and the transaction was concentrated at 14190-14200 yuan / ton, and in the process of upwashing, some traders actively received goods, and after returning, traders actively inquired about prices, but the supply and demand ends were slightly
deadlocked.
Comprehensive research and judgment: spot, futures inventory and electrolytic aluminum production increased, putting pressure on aluminum prices, but capacity expectations and production costs support aluminum prices, it is expected that the main force of Shanghai aluminum 1706 short-term high shock, operating range of 14200-14500 yuan / ton
.
