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Affected by Indonesia's possible ban on the export of bauxite, the recent trend of aluminum prices is strong
.
Overnight, Lun aluminum rushed back down to hit a new recent high after closing a small negative, opened slightly higher today, Shanghai aluminum overnight high oscillated to close the doji, closing above the 5-day moving average and 14400
.
Shanghai aluminum trading declined, positions rose, technical form was better, and there was a possibility
of a sharp upward movement after the holiday.
Upper pressure at 14680, lower support 20-day MA at 14300
.
In terms of inventory, the latest inventory of LME aluminum was 916,000 tons, down 825 tons from the previous trading day; The aluminum warehouse receipt of the previous period was 133364 tons, a decrease of 1325 tons
compared with the previous trading day.
In terms of spot, the transaction price of Shanghai Wuxi market is between 14450-14460 yuan / ton, the opposite plate premium is 10 yuan / ton, and the spot price in Hangzhou is around
14460-14480 yuan / ton.
Cargo holders actively ship, middlemen actively receive goods, and downstream purchases
on demand.
In terms of news, the average operating rate of the aluminum cable industry in August increased by nearly 4 percentage points month-on-month to 48.
43%, an increase of about 4 percentage points
year-on-year.
In August, the operating rate of aluminum plate and foil enterprises was 72.
71%, and the overall performance picked up slightly, an increase of 0.
74 percentage points from the previous month and 3.
68 percentage points
year-on-year.
Stimulated by the confirmation of reduced production, buying interest increased, and aluminum prices trended strongly
.
As the lack of production is gradually reflected in the decrease in arrivals, the recovery of consumption will make the inventory quickly dematerialize, and gradually enter the situation, the market is still in a bullish pattern
.
But it is worth noting that the price broke through the 14500 mark and the alumina price below 2600 means that the profit of the aluminum plant will be better, and the willingness of the enterprise to maintain value will also be triggered, so the pressure on 14500 will gradually increase
.
