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Last Friday, the Shanghai aluminum 1909 contract opened at 13900 yuan / ton
in the morning.
After the opening, the bulls took the initiative to increase their positions, and Shanghai aluminum quickly rose before noon, touching 13975 yuan / ton at a high level, close to the upper 60-day moving average
.
In the afternoon, the high bears took the initiative to increase their positions, Shanghai aluminum shock fell back, and the short short take profit left the market at the end of the session, and Shanghai aluminum closed at 13935 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1849 US dollars / ton
in the morning.
During the Asian session, London aluminum maintained a narrow range above the 5-day moving average, only touching a low of $1847.
5 / ton
at the open.
As of 15:00, Lun aluminum was reported at $1855/ton
.
During the European session, the upward momentum of Lun aluminum increased, and the shock upward high touched a recent high of 1858 US dollars / ton, as of 16:44 Lun aluminum was reported at 1854.
5 US dollars / ton
.
The short-term Lun aluminum moving average is arranged in a long position, and although the amplitude of London aluminum narrows, it also continues to move up with the center of gravity of the 5-day moving average
.
In terms of the market, the opening performance of aluminum futures in the month was range-bound, and the second trading stage sank
slightly.
In the morning, the transaction price of Shanghai and tin two regions was between 13910-13920 yuan / ton, and the opposite plate was pasted 20-10 yuan / ton, which was up 75 yuan / ton from the previous day, and a large household received goods near 13920 yuan / ton in Shanghai, the second trading range period aluminum fell slightly, and the market traders traded more actively, the price was concentrated between 13890-13910 yuan / ton, and the opposite plate was discounted 20-10 yuan / ton nearby
.
Intraday shipments are very positive under high prices, and the willingness of some hedging brokers to receive goods has also increased, but on the whole, there are still more and less
shipments.
The downstream performance is average, although it is close to the weekend, but the fear of heights is obvious, and the enthusiasm for stocking is not high
.
In the late afternoon, aluminum continued to maintain range fluctuations, sinking at the end of the day, and a small number of transactions in the market were concentrated around 13900 yuan / ton, and the surface of the plate was discounted around 10 yuan / ton, and there was almost nothing
downstream.
In terms of stocks, LME stocks rose back to 974,000 tons, an increase of 03,000 tons to 422,000 tons in the previous period, and social stocks increased by 02,000 tons to 1.
04 million tons, and domestic stocks began to accumulate
.
Last week, aluminum prices stabilized slightly in the overall colored sector, but in terms of supply and demand, China is currently in the off-season of domestic consumption, and the supply side is sufficient, and inventories have begun to accumulate
.
At the same time, the price of raw materials such as alumina has fallen and profits have expanded, and the industry's profit compression space is still there
.
In the future, focusing on the launch of new production capacity and the overall macroeconomic trend, short-term aluminum prices do not support the continued rebound
.
Operationally, it is recommended to make a profit in the early stage, and the short-term idea is short
.
