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Overnight Shanghai aluminum soared sharply and hit a new high, Thursday morning Shanghai aluminum 1710 contract opened at 16705 yuan / ton, after the opening of the early entry bulls left the market to lead the market, aluminum prices fell in a stepped manner, giving up nearly two-thirds of the gains, closing at 16465 yuan / ton, the position decreased by 9342 hands to 329272 lots, the Shanghai aluminum index position increased by 54706 hands to 968388 lots, and the position of Shanghai aluminum 1711 contract increased by 31852 hands to 333786 lots, basically increased in overnight trading
。 Due to the lack of substantial positive factors, aluminum prices rushed back down, long capital efficiency is low, and aluminum prices are expected to remain high and volatile
in the short term.
In terms of the external market, Lun aluminum rose sharply overnight, Lun aluminum opened low at 2105 US dollars / ton in the morning, the US dollar fluctuated upward during the day, Lun aluminum weak running below the daily moving average, it is difficult to form an effective breakthrough, the trading center of gravity slowly moved down, into the European trading session Lun aluminum amplitude intensified, several attempts to stand on the daily average unsuccessful, as of 17:53, Lun aluminum reported 2097 US dollars / ton, MACD red column gradually closed, superimposed LME inventory has appeared inflection point, it is expected that Lun aluminum or will continue to test the 5-day moving
。
In terms of the market, aluminum rose by about 400 yuan / ton overnight that month, and fell in a stepped manner before
noon.
Before diving, Shanghai transaction concentration 16290-16300 yuan / ton, the current month discount 240-230 yuan / ton, Wuxi transaction concentration 16290-16300 yuan / ton, Hangzhou transaction concentration 16290-16310 yuan / ton, after diving, Shanghai transaction concentration 16260-16270 yuan / ton, for the month discount 220-210 yuan / ton, Wuxi transaction concentration 16260-16270 yuan / ton, Hangzhou can not move, quotation is rare
。 Intraday spot rose by nearly 400 yuan / ton, holders of high shipments are active, especially holders holding unilateral goods, prices have skyrocketed, middlemen and downstream wait-and-see sentiment is strong, and the overall transaction is very poor
.
In the late afternoon, the high of aluminum fell rapidly in the month, and the early trading volume in East China was 16260-16270 yuan / ton, and as the plate fell, the market was difficult to see the transaction
.
At present, the fundamentals of the aluminum market are weak, and the recent supply-side policy news stimulates a sharp correction after the rise in aluminum prices, and non-ferrous metals rebound overnight, but the aluminum market continues to fall after the rebound, showing that the upper pressure is large, and it is recommended to wait and see
.
