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On Wednesday, Shanghai aluminum 1709 opened at 14440 yuan / ton in the morning, after the opening aluminum price around the daily moving average narrow range, then the market rumors that Weiqiao production reduction will reach 2.
6 million tons, the news quickly boosted market sentiment, aluminum prices rose sharply, maintained a strong upward trend in the afternoon, touched 14840 yuan / ton at a high level, and then made a short profit to end the aluminum price to give up a small part of the gain, closing at 14765 yuan / ton, up, 35 yuan / ton, up 2.
11%.
In terms of external trading, Lun aluminum opened at 1909 US dollars / ton in the morning, the center of gravity of London aluminum trading before the afternoon of the Asian market moved up slightly, and in the afternoon, boosted by the news of the sharp reduction of domestic aluminum production, Lun aluminum rose sharply to touch 1936.
5 US dollars / ton, but quickly fell back to near the daily moving average, and then oscillated upward, entering the European trading session Lun aluminum amplitude intensified, the high touched 1927.
5 US dollars / ton, but the low also once stepped back to 1919 US dollars / ton, as of 18:20 Lun aluminum reported 1926 US dollars / ton
.
In terms of the market, aluminum futures quickly climbed more than 100 yuan
at the end of the afternoon shock.
Shanghai transaction concentration is 14200-14220 yuan / ton, the discount for the month is 150-140 yuan / ton, Wuxi transaction concentration is 14200-14220 yuan / ton, Hangzhou transaction concentration is 14230-14250 yuan / ton
.
Cargo holders have slightly tightened their attitude to shipments, middlemen are relatively active in receiving goods, downstream enterprises have limited high-temperature production, limited purchases, and the overall transaction is slightly better than yesterday, mainly from the contribution of
traders.
In the late afternoon, aluminum continued to soar at the opening of the month, some speculative holders were willing to ship, the transaction price in East China was 14460-14480 yuan / ton, and the discount for the month was 200-160 yuan / ton, the discount expanded, and traders were looking for low-priced sources
.
In terms of news, due to the good performance of US PCE data, the US dollar rebounded from its lows, which put some pressure
on the non-ferrous market.
However, the center of gravity of non-ferrous metal prices has shifted upward as a whole, of which aluminum prices have shown strong resilience overall, mainly due to the strong expectation of national environmental protection and capacity reduction policies
.
Aluminum stocks rose sharply during the day, driving the Shanghai market aluminum soaring
.
Shanghai aluminum closed a big yang rod in the day, policy-led aluminum production reduction action is still the most important factor guiding the price to rise strongly, pay attention to the bullish trend, aluminum prices run in a strong upward channel, short-term effective breakthrough of 15,000 yuan / ton integer mark is still the first target, but be wary of the impact of long profit orders on price trends
.
