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On Thursday, Shanghai aluminum opened at 16080 yuan / ton in the morning, after the opening of the bulls took the initiative to enter the market to push up the aluminum price to 16295 yuan / ton, high air into the flat, aluminum prices under pressure downward, afternoon bears tentative entry increased, Shanghai aluminum low once touched 16025 yuan / ton, the shock closed at 16085 yuan / ton, the trading volume decreased by 170,000 hands to 946258 lots, and the position decreased by 2432 hands to 444046 lots
.
In the short term, the phased exhaustion of bullish factors, coupled with the increase in the number of tentative entries by bears, paying attention to the exit of profit orders, may drag down the pace of
growth.
In terms of the external market, in the morning, Lun aluminum opened at 2022 US dollars / ton, the Asian session Lun aluminum first rose and then declined, the beginning of the session once tested to 2040 US dollars / ton, and then quickly leaked, the afternoon continued the downward trend low touched 2017.
5 US dollars / ton, into the European trading session Lun aluminum repair decline re-red, again rushed up 2040 US dollars / ton, intraday amplitude is larger, as of 18:30, Lun aluminum reported 2040 US dollars / ton, it is expected that Lun aluminum continue to fluctuate in a high and wide range, pay attention to the domestic Shanghai
。
In terms of the market, aluminum rose first and then suppressed after the opening of the month, closing at 15940 yuan / ton
before noon.
The market transaction price fluctuates greatly, before the fall of aluminum in the future, the transaction price in Shanghai is concentrated in 15850 ~ 15860 yuan / ton, the discount of the month narrowed to 200 ~ 180 yuan / ton, Wuxi transaction concentration 15840-15850 yuan / ton, Hangzhou trading concentrated 15850-15860 yuan / ton, after the futures fell, East China basically no price difference, the market quotation from 15810 yuan / ton all the way down to 15770 yuan / ton before the close, The contract discount for the month is still maintained at the level of 200~180 yuan / ton, but basically no one receives the goods, so there are few transactions, the overall transaction in East China before the afternoon is relatively light, one is due to the narrowing of the basis, the middleman has almost no arbitrage space, the willingness to receive goods is not strong, the second is that the downstream is still afraid of high aluminum prices, coupled with poor orders, so there are fewer
procurement actions.
Just opened in Wuxi in the afternoon 15760 yuan / ton, the subsequent period of aluminum continued to dip low, the market holder's quotation on the month discount has narrowed, and the psychological price gap of the receiver is large, so there is basically no transaction
.
Aluminum prices recently hit their highest level since 2012 on expectations that China's closure of aluminium production capacity will tighten
supply.
The market adjusted slightly during the day, but the bulls did not show signs of large-scale withdrawal under the guidance of potential production cut news, and it is expected that the short-term Shanghai aluminum will continue to be strongly volatile, but it is necessary to beware of the profit taking caused by the rapid rise
.
