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On Friday, Shanghai aluminum opened at 13555 yuan / ton in the morning, after the opening of the early entry short profit, aluminum prices continued to test to repair the overnight decline, once touched 13870 yuan / ton, the early afternoon quilt and intraday short-term bulls have left the market to avoid risk, Shanghai aluminum slowly fell, closing at 13715 yuan / ton
.
The position of Shanghai aluminum 1705 contract increased by 13224 lots to 206456 lots, and has been initially tested 40-day moving average support, the willingness of capital positions to move back is strong, and the position of Shanghai aluminum index has been reduced from the highest 744,000 lots after the holiday to 699,000 lots, and the long active liquidation is the mainstay
.
It is expected that Shanghai aluminum still has downward space, but it is relatively limited, and it is important to pay attention to the effective support
of 13,500 yuan / ton.
In terms of the external market, in the morning, Lun aluminum opened at 1860 US dollars / ton, at the beginning of the session, Lun aluminum rose slightly and then around the daily average of 1884 US dollars / ton a narrow range, and then followed the domestic Shanghai aluminum to open the recovery mode, the end of the Asian session fell back to the daily average of around 1869 US dollars / ton, entering the European trading session, the dollar fell, Lun aluminum accelerated upward, once touched 1888 US dollars / ton, as of 18:00, Lun aluminum 1885 US dollars / ton, it is expected that Lun aluminum sits on the 20-day moving average, above continue to test 5/ The 10-day moving average resistance, the overall trend in the short term will still be stronger than the domestic Shanghai aluminum
.
On the macro front, the Fed's expectations of a rate hike in March have led the dollar to rise slowly, China's Ministry of Housing and Urban-Rural Development has hinted that it will take measures to stabilize the real estate market, causing China's demand worries to resurface, weighing on metal prices, aluminum ingot prices have fallen sharply, the current aluminum first target has been reached, and the stop loss point has moved down to 13,000 yuan / ton
.
In terms of the market, aluminum fell sharply overnight in the month and then made a technical correction
in the afternoon.
Shanghai transaction concentration 13410-13430 yuan / ton, the month discount 240-170 yuan / ton, the end of the day, the holders, reluctant to sell, difficult to find a quotation, Wuxi transaction concentration 13410-13420 yuan / ton, Hangzhou transaction concentration 13440-13460 yuan / ton
。 The spot price fell below 13,500 yuan / ton, the holder controlled the shipment, and with the end of the day, the selling sentiment of the holder gradually increased, the middleman transaction in the early stage of the wait-and-see attitude, before 11 o'clock with the aluminum shock after the rise, the willingness of middlemen to replenish the stock at low prices, the willingness of downstream enterprises to receive goods at low prices has increased, the aluminum performance is too fast after the technical correction, the overall performance of the bargain trading picked up
.
In the late afternoon, aluminum fell from a high of 13750 yuan / ton in the month, and the holders followed the quotation, and the quotation was concentrated at 12480-12520 yuan / ton, and there were fewer
market inquirers.
On the plate, Shanghai aluminum was supported at the 13,500 line, and the risk was partially released after the rapid decline, and the short-term continued downward space was not large, but the medium-term volatility was weak, and the idea
of selling short prices was maintained.
