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On Friday, Shanghai aluminum opened at 14400 yuan / ton in the morning, after the opening aluminum price under pressure daily moving average narrow finishing, in the afternoon bifocal strong pull up to boost market sentiment, more into the short flat, Shanghai aluminum broke through the 5-day moving average resistance touched 14490 yuan / ton, 14500 mark resistance is still there, so the rally failed to last, the early bulls have left the market to wait and see, aluminum prices passively stepped back on the daily average to close at 14445 yuan / ton
.
If there is no new production cut news stimulated, aluminum prices will continue to fluctuate
high next week.
Above Shanghai aluminum continue to pay attention to the long and short competition for the 14500 yuan / ton first-line integer mark, below pay attention to the support of the 5/10 daily moving average, it is expected that the main force of Shanghai aluminum will continue to fluctuate between 14300 ~ 14550 yuan / ton
.
In terms of external trading, Lun aluminum opened at 1916 US dollars / ton in the morning, Lun aluminum rose slightly at the beginning of the session, and then close to the narrow range above the daily moving average, Shanghai aluminum rose first and then suppressed, the center of gravity of Lun aluminum also moved up to touch 1928 US dollars / ton, entering the European trading session, the US dollar fell below 94 points, tested down 93,981, Lun aluminum briefly stepped back to the 5-day moving average of 1921 US dollars / ton after rising with the base metal, Lun aluminum touched 1935 US dollars / ton, as of 18:30, Lun aluminum reported 1932 US dollars / ton, Lun aluminum repeatedly tested the 5-day moving average support for several days, but the moving averages converged to form a strong support, and it is expected that next week or will fluctuate at 1910~1945 US dollars / ton
.
In terms of the market, aluminum futures fluctuated
in a narrow range before noon of the month.
Shanghai transaction concentration is 14170-14180 yuan / ton, the discount for the month is 160-150 yuan / ton, Wuxi transaction concentration is 14170-14180 yuan / ton, Hangzhou transaction concentration is 14180-14190 yuan / ton
.
Holders are happy to ship, but the spot price fluctuates above Wansi, downstream enterprises are difficult to pass on the rising costs, maintain procurement according to just demand, spot discount remains stable around 150 yuan / ton, middlemen have no room for operation, and the overall transaction remains low
.
The overall transaction this week was worse
than last week.
In the late afternoon, aluminum first rushed to the high end of the month and the high fell rapidly, and the holders adopted a price adjustment with the market, and quoted 150-140 yuan / ton at a discount of the month, and a small amount of 14190-14200 yuan / ton
was traded.
On the news front, oil prices closed lower on Thursday in volatile intraday trading as lingering concerns about global oil oversupply weighed on prices, with Brent crude rising above $50 a barrel in early trading for the first time
since June 7.
Gold prices rose to a three-week high on Thursday after European Central Bank President Mario Draghi said policymakers would discuss possible adjustments to the bond-buying program in the fall, pushing the euro to a 14-month high
.
Draghi said policymakers agreed not to adjust monetary policy guidance and not to set a specific date
for discussing adjustments to stimulus plans.
However, he hinted that the topic
of tapering the bond-buying program would be discussed further later this year.
LME three-month aluminum fell 0.
2 percent to close at $
1,916.
50 a tonne.
During the day, the main force of Shanghai aluminum 1709 slightly adjusted, the tail market closed at 14445, the rebound 14500 realized, the short-term price at 14500 repeatedly, up 15000 is a relatively large pressure in the medium term, more single take profit after waiting for the opportunity
.
