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On Monday, the main 1912 contract of Shanghai aluminum opened at 13950 yuan / ton
in the morning.
After the opening, short-term swing positions entered, and Shanghai aluminum failed to continue the previous working day's rally, and Shanghai aluminum gradually weakened
after touching 13955 yuan / ton at a high level.
Then the bears chased after the victory in the afternoon, and the low of Shanghai aluminum touched 13905 yuan / ton
.
In the afternoon, the long-short game intensified, the confidence of bears under the strong spot weakened, the short continued to profit and exited, and the Shanghai aluminum shock rebounded, closing at 13945 yuan / ton, basically repairing the intraday decline
.
In terms of external disk, Lun aluminum opened at 1784 US dollars / ton
in the morning.
During the Asian session, Lun aluminum maintained a narrow range of oscillation, and the low touched 1782 US dollars / ton
.
At the end of the Asian market, the volatility of Lun aluminum intensified, and Lun aluminum quickly pulled up to touch 1792.
5 US dollars / ton, and as of 15:00 Lun aluminum reported 1790.
5 US dollars / ton
.
During the European session, Lun aluminum maintained high volatility, as of 17:30 Lun aluminum was reported at 1793 US dollars / ton, rushing higher than a month and a half high
.
In the spot market, aluminum futures maintained range fluctuations
before noon of the month.
Shanghai and Wuxi morning spot price between 14060-14080 yuan / ton, the second trading stage of aluminum sinking, the two places spot price began to concentrate between 14050-14070 yuan / ton, compared with last Friday up 50 yuan / ton around, the opposite plate premium between 70-90 yuan / ton, Hangzhou area price in 14060-14070 yuan / ton
。 The absolute price of spot within the day is higher, the premium has fallen slightly compared with last week, the willingness of the holder to ship has increased significantly, the shipment volume has increased, the middleman is still actively receiving the goods, the trading of the two sides is more active, although a large household plans to receive more than 10,000 tons, but because the process of first goods and later payment is more difficult for the holder to accept, the actual is not full
.
Downstream manufacturers purchase on demand, more afraid of heights, and did not clearly show their willingness to
replenish on Monday.
Overall, downstream consumption was stable in October, social aluminum ingot inventories continued to decline, the long-short game intensified, and the bearish power moved backward under the background of strong spot
.
Coupled with the sharp rebound of overseas aluminum, the short-term Wansi mark will once again become the focus
of the long-short game.
However, the long-term cost has moved down, and the increase in supply is still like a sword hanging above the bulls, and the continuous upward movement of Shanghai aluminum still needs downstream demand support
.
