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Trade Service
On Wednesday, the main 2005 contract of Shanghai aluminum opened at 12630 yuan / ton
in the morning.
After the opening of Shanghai, aluminum is still dominated by short entry and long flat, and it remains low and volatile before noon, only touching the 5-day moving average position of 12720 yuan / ton at the open
.
In the afternoon, Shanghai aluminum opened weak, and then quickly dived, and the low once touched 12235 yuan / ton, a new low
since October 17.
At the end of the session, Shanghai aluminum closed at 12,300 yuan / ton, down 3.
45%.
In terms of external disk, Lun aluminum opened at 1650 US dollars / ton
in the morning.
During the Asian session, London aluminum maintained a narrow range of volatility before noon, only touching 1651.
5 US dollars / ton
after the open.
In the afternoon, all non-ferrous metals appeared short selling pressure plunged, Lun aluminum dived, the low once touched 1613 US dollars / ton, after Lun aluminum fell slightly repaired, as of 15:04 Lun aluminum reported 1624 US dollars / ton, down 1.
19%.
U.
S.
stock index futures fell to the limit at noon during the day, and a series of stimulus policies by the Federal Reserve intensified panic, and the futures market plunged sharply, and the decline in nonferrous metals was relatively small
.
It is expected that the overseas panic will not abate, and Lun Aluminum will still maintain the pressure
above.
In the spot market, aluminum prices fell back in the afternoon shock
.
Shanghai Wuxi market holders quoted between 12500-12520 yuan / ton, spot premium between 100-80 yuan / ton, the price compared with the previous day down 70 yuan / ton, Hangzhou price between 12510-12530 yuan / ton
.
There is no procurement plan for large market players in the day, the market supply is still loose, although the holders actively ship but the supply is relatively oversupply, the price advantage is not obvious, and the middlemen receive goods flat
.
The downstream intraday receiving status has improved slightly, mainly because the price of aluminum fell to the bottom price
of some merchants.
The overall intraday transaction in East China was poor
.
In the late afternoon, aluminum fell sharply, and although the holder placed a pending order around 12,500 yuan / ton, the opposite surface was discounted about 60 yuan / ton, but there was almost no transaction
.
The main reason for the intraday Shanghai aluminum diving was the surge in overseas panic, domestic futures were generally short-filled, and non-ferrous metals dived collectively in the afternoon
.
Domestically, the direct impact of the epidemic on downstream and terminal starts is getting smaller and smaller, and the current impact is mainly due to poor terminal consumption caused by the epidemic, and the slowdown in the start increase caused by the small number of corporate orders, which has no significant support
for aluminum prices.
At the same time, the continuous decline in aluminum prices has increased the loss of electrolytic aluminum, and it is still necessary to pay attention to the possible reduction of electrolytic aluminum production
.
It is expected that before the control of the overseas epidemic, macro panic is still likely to intensify, and short-term Shanghai aluminum prices are still under pressure, and there is a possibility
that they will continue to fall.
