Shanghai aluminum stops falling and stabilizes waiting for market news guidance

In terms of external trading, Lun aluminum opened at 1719.
5 US dollars / ton, during the Asian session, Lun aluminum was affected by Shanghai aluminum first suppressed and then rose, first fell to test a low of 1712 US dollars / ton before the afternoon, and then rebounded with the recovery of Shanghai aluminum, the Asian high recorded 1722.
5 US dollars / ton; Entering the European trading session, dragged down by the decline in crude oil, Lun Aluminum briefly fell back to the $1715 line, and then showed a strong trend in the recent European market, rebounding and breaking through the 5-day moving average, as of 18:15, Lun Aluminum recorded a daily high of $1730 / ton
.

In terms of the market, the aluminum period fluctuated before the afternoon of the month
.
Shanghai trading concentrated 14240-14250 yuan / ton, the monthly premium was 350-370 yuan / ton, Wuxi transaction concentrated 14220-14240 yuan / ton, Hangzhou transaction concentrated 14320-14340 yuan / ton
.
Shanghai holders stable shipments, Wuxi inventory increased more, there are large holders to increase shipments, middlemen on the future market trend is not clear, cautious mentality continues, although the spot price for two consecutive days have fallen more than 300 yuan / ton, but downstream enterprises still can not bear this high price, try to postpone the order production, the receiving strength has not seen a significant recovery
.
Hangzhou's circulating supply is tight, and it is difficult for middlemen and downstream to find Hangzhou sources, so the spot price of Hangzhou is much
higher than that of Shanghai Wuxi.
In the late afternoon, the center of gravity of aluminum rose steadily, holders were bullish on Friday's spot rise, and a sell-selling mentality breeded, the quotation was 14290-14310 yuan / ton, middlemen looking for suitable sources, positive inquiries, but fewer transactions
.

In terms of inventory, the latest statistics show that on November 3, the inventory of aluminum ingots in five places across the country was 256,000 tons, an increase of 31,000 tons from last week, and the inventory recovery trend is obvious
.
Due to the recent increase in arrivals and the decrease in downstream receipts, the entire inventory has rebounded significantly, and at the same time, the spot price has fallen
sharply.

Considering that the downstream has recently responded to the sharp rise in aluminum prices by reducing production stoppages, the real demand has been suppressed to a certain extent, and the downstream will resume procurement after the aluminum price returns to the normal level; Inventories are still at a low level and will not recover quickly and sharply, and aluminum prices will not fall too much
.
On the plate, Shanghai aluminum is now showing signs of decline, the long and short divergence has increased, and the aluminum price may fall into a stalemate in the later period, and the shock is mainly
sorted out.