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On Friday, the main force of Shanghai aluminum opened at 14755 yuan / ton, after the opening profit long position closed, the low touched 14730 yuan / ton, then a short second intervention and touched the afternoon to 14875 yuan / ton, at the end of the session part of the long profit liquidation, some bears unhooked and fled
.
Shanghai aluminum has basically repaired the one-week decline, and under the excellent performance of the continuous sharp decline in inventory, there is still upward momentum, and it is expected that next week Shanghai aluminum will gradually move
up again with the rise of the lower moving average.
In terms of external trading, Lun aluminum opened at 2290 US dollars / ton in the morning, the US dollar was strong during the Asian session, and the US index suppressed the narrow range of Lun aluminum shock, and the low touched 2282 US dollars / ton
.
After entering the European session, the US index weakened slightly, coupled with the domestic Shanghai aluminum boost, the shock upward, the high touched 2314.
5 US dollars / ton, as of 18:46 Lun aluminum reported 2301.
5 US dollars / ton
.
Short-term London aluminum is affected by the slight decline in overseas alumina prices, and the risk that Brazil's Hydro alumina plant may resume production, the trend is weaker than that of Shanghai aluminum
.
In terms of the market, aluminum futures fluctuated before
noon that month.
Shanghai transaction concentration is 14660~14680 yuan / ton, the discount for the month is 60~50 yuan / ton, Wuxi transaction concentration is 14660~14680 yuan / ton, Hangzhou transaction concentration is 14690~14720 yuan / ton
.
Holders control shipments, intraday circulation slightly decreased compared with the previous day, especially in Hangzhou, resulting in relatively high prices in Hangzhou, Friday, weekend stocking demand, downstream procurement volume increased slightly, and the overall transaction was slightly better
than the previous day.
In the late afternoon, aluminum rose rapidly, and East China traded 14680~14710 yuan / ton
.
On the news, Russian Energy Minister Alexander Novak said that if OPEC and non-OPEC producers expect the oil market to return to balance in June, the production limit agreement can be "slightly" relaxed
.
Oil prices also fell as market participants locked in profits
ahead of the long weekend holiday for Memorial Day in the United States.
According to Interfax, Russian Energy Minister Alexander Novak said that if OPEC and non-OPEC producers expect the oil market to return to balance in June, the production limit agreement can be eased
"slightly".
Technically, aluminum prices are still maintained above the short-term moving average, temporary range shock operation, domestic aluminum inventory dematerialization process, alumina supply is tight to support aluminum prices below, but in the medium and long term supply is still facing greater pressure, short-term aluminum prices or shock operation
.
