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On Thursday morning, Shanghai aluminum opened at 13980 yuan / ton, early in the day more flat short, Shanghai aluminum slightly downward recorded a low of 13925 yuan / ton, low bulls protection intention is obvious, bears see the momentum one after another to leave the market wait-and-see, aluminum prices were boosted upward, early afternoon early entry bears expanded the scale of exit, bulls took advantage of the trend to actively enter Shanghai aluminum touch 14130 yuan / ton, high 40-day line resistance again, short more profit taking, aluminum prices gave up part of the gains, closed at 14090 yuan / ton
。 At present, it seems that the funds are still mainly short-term operations, Shanghai aluminum is still within the shock range, short-term attention to whether Shanghai aluminum can get rid of the moving average winding, effectively break through the 40-day line
.
In terms of the external market, Lun aluminum opened at 1949 US dollars / ton in the morning, and at the beginning of the session, Lun aluminum followed Shanghai aluminum slightly lower to 1941 US dollars / ton, and then the trading center of gravity moved steadily up, and continued to rise after stepping back to 1949 US dollars / ton in the afternoon, entering the European trading session, Lun aluminum fluctuated at a high level, touching 1957.
5 US dollars / ton, in the OPEC meeting, the Saudi oil minister said that he had discussed deepening the scale of production cuts, but did not think it was necessary to take the action, the remarks pressured crude oil to plunge, base metals were dragged down to varying degrees , Lun aluminum down to 1945.
5 US dollars / ton to get 5-day moving average support, then turned red, as of 17:20 Lun aluminum reported 1951.
5 US dollars / ton, it is expected that Lun aluminum continue to try to recover
.
On the macro front, oil prices retreated slightly on Wednesday as investors reacted to a smaller-than-expected drop in U.
S.
gasoline inventories as markets awaited the outcome
of the Organization of the Petroleum Exporting Countries (OPEC) and other oil exporters discussing in Vienna whether to extend the production cut agreement.
On Thursday, OPEC will discuss with non-OPEC producers whether to extend the production cuts, a measure that only recently became apparent
in global inventory data.
Gold rose on Wednesday as the dollar slipped and the minutes of the latest policy meeting released by the US Federal Reserve hinted that the central bank was cautious
about raising interest rates.
In terms of the market, aluminum futures fluctuated before noon that month, rising rapidly by 50 yuan / ton at 11 points to 13970 yuan / ton
.
Before 11 o'clock, Shanghai trading concentrated 13810-13820 yuan / ton, the monthly discount 100-90 yuan / ton, Wuxi transaction concentration 13810-13820 yuan / ton, after 11 o'clock soared, Shanghai Wuxi price raised to 13840-13860 yuan / ton
.
Hangzhou transaction concentration of 13820-13850 yuan / ton
.
During the day, smelter shipments decreased, before the big rise, traders actively shipped, after the big rise, traders sold at a high price, after the middleman rose sharply, the inquiry was positive, but it was difficult to find a suitable source, the downstream prepared the Dragon Boat Festival earlier, the overall transaction was slightly better than the previous day, not as good as the previous day's stocking peak, and the Dragon Boat Reserve Strength was not as expected
.
Intraday Shanghai aluminum main force 1707 contract volatility rise, continue to be repeated in the 14000 line, the tail market closed at 14090, the trend point of view, aluminum prices will continue to fall in the short term, 14000 is the main pressure in the medium term, maintain short thinking
.
