Sniped by bears at high levels Aluminum prices gave up gains downward

In terms of external trading, Lun aluminum opened at 1683 US dollars / ton in the morning, during the Asian session, the opening of Lun aluminum narrow range oscillation upward, soon hovering above the daily moving average, at about 13:30 in the afternoon recorded a intraday high of 1690 yuan / ton, in the afternoon Lun aluminum fell back, giving up the morning gains
.
As of 15:00, Lun aluminum was reported at 1683.
5 US dollars / ton
.
During the European session, Lun aluminum continued its downward trend, during which it recorded a low of 1683 US dollars / ton, and after the European session, it fluctuated around the daily moving average, but the upper and lower limits of the range did not change, as of 17:30 Lun aluminum was reported at 1687 US dollars / ton, up 4.
5 US dollars / ton
.

Aluminum rushed back down
before noon.
Shanghai and Wuxi spot price between 14820-14840 yuan / ton, Wuxi price slightly higher, the price of the two places from the previous day fell around 75 yuan / ton, the morning discount near Pingshui, 11:00 late aluminum fall, but the holders are more unwilling to follow the sharp price reduction, the price adjustment space is only within 20 yuan / ton, the basic premium on the plate is around 40-60 yuan / ton, but there are not many holders who actually follow the quotation, and the transaction price in Hangzhou is 14830-14850 yuan / ton
。 In the morning, traders inquired positively, the willingness of holders to ship was not high and relatively high, and the transaction heat gradually rose after 10:00, but in view of the fact that a large household still did not carry out a procurement plan in East China within the day, it was difficult for traders to actually increase the volume of their own transactions, and the trading between the two sides was more general
.
Downstream intraday on-demand procurement is the mainstay, and the enthusiasm for receiving goods has increased
significantly compared with Monday.
The overall transaction in East China was flat
during the day.
Aluminum sinks in the late afternoon, the range is mainly volatile, the carrier quotation is chaotic, between 14770-14810 yuan / ton, the opposite plate premium 40-50 yuan / ton around, only a small number of transactions between traders, almost no
downstream.

Bulls reduced their positions for two consecutive days, futures aluminum prices further slightly down, the current electrolytic aluminum social inventory is still at a low level, spot supply tensions to support aluminum prices, spot-driven futures price logic unchanged
.
At the same time, the recent sharp fluctuations in the plate price, as well as the three-day reduction status, reflect the lack of confidence of the current long and short sides, and the high vigilance of the current aluminum price, the future still needs to pay attention to the changes in the market capital flow, and the subsequent fundamental bearish signal
.