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On Thursday, the main 1709 contract of Shanghai aluminum weakened slightly to 14200 yuan after the open, after which the price rose, the price rose sharply in the second trading session, and the price fluctuated in a narrow range at a high level in the afternoon, rising as high as 14355 yuan
.
As of the close, it closed at 14,320 yuan, up 95 yuan, or 0.
67%.
Index holdings increased by 18,260 lots to 649,000 lots, and trading volume shrank to 234,000 lots
.
Externally, the LME aluminum March contract opened higher immediately after the morning, rose to $1903 at noon and then fell under pressure, and after reaching $1896, the price rebounded at the end of the Asian market, but it was still blocked at the day's high of $1903, and the Asian market closed at $1900, up $11, or 0.
58%.
In terms of the market, the mainstream trading hours of the spot market are generally trading, the spot aluminum price is approaching the price of 14,000 yuan / ton again, mobilizing the enthusiasm of holders, holding companies actively adjust prices at a high level and sell, middlemen are bullish after the market presses down prices to receive a large number of goods, but the downstream is slightly wait-and-see, and the overall market trading is general
.
In terms of news, the latest release of China's import and export data for June was better than expected, forming a driving effect on Shanghai aluminum, and in terms of policy, the news that Shandong plans to reduce electrolytic aluminum production capacity continued to ferment, stimulating bulls to continue to increase their positions
sharply at a high level.
In addition, the continuous surge in A-shares shows that the recent capital is relatively loose, and the continuous rise in black has stimulated the bulls in the aluminum market to rush higher
.
On the technical side, Shanghai aluminum main KDJ, MACD double golden cross, the price stood on the 5-day moving average and broke through the neckline in one fell swoop, it is expected that the short-term aluminum market still has the possibility of soaring, and the quotation rose to above
14,000 yuan / ton.
