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On Wednesday, the main contract of Shanghai aluminum at 1909 opened at 13860 yuan / ton
in the morning.
After the opening, the bulls increased their positions, and the Shanghai aluminum shock went upward, touching 13890 yuan / ton
at a high level.
In the second trading session before noon, bulls began to leave the market with insufficient confidence, and Shanghai aluminum fell below
the 20-day moving average.
In the afternoon, the weakness of Shanghai aluminum continued, the bulls reduced their positions, and Shanghai aluminum continued to fluctuate downward, closing at the lowest point of 13805 yuan / ton, located below
all moving averages.
In terms of external disk, Lun aluminum opened at 1761 US dollars / ton
in the morning.
Asian session
.
Lun aluminum volatility strengthened, touching a high of $1767.
5 / ton before noon, and has not yet touched the upper 5-day moving average to lose upward momentum
.
In the afternoon, Lun aluminum fell back down, touching $1759 / ton at a low level, and Lun aluminum was reported at $1760 / ton
as of 15:00.
During the European session, Lun aluminum rebounded slightly, repaired the intraday decline and turned red, as of 17:41 Lun aluminum was reported at 1765 US dollars / ton
.
The risk of a trade war on the macro level has continued to put non-ferrous metals under pressure, and London aluminum has remained low and volatile
.
In the spot market, aluminum futures were mainly range-bound before noon of the month, and the second trading range fell
slightly.
The spot trading price of aluminum ingots in Wuxi, Shanghai is concentrated between 13890-13910 yuan / ton, and the opposite plate premium is 30-40 yuan / ton, which is basically the same as the previous day's price, and the market price in Hangzhou is between
13910-13930 yuan / ton.
A large household received nearly 10,000 tons of goods in the East China market, because the price was still at a high level and the premium was higher, the holders actively shipped, the overall trading of the market was better, with the suspension of the receipt of goods by large households, because other middlemen did not recognize the price, there were not many goods, the shippers began to significantly more than the receivers, the market transaction activity was reduced, and the price in the second trading range fell
slightly.
Downstream manufacturers still maintain the rhythm of on-demand procurement, take a wait-and-see attitude towards high prices, and the receiving status is not even as good as the previous day
.
Because traders trade better
.
In the late afternoon, aluminum maintained a narrow fluctuation, and the holder's quotation was around 13890 yuan / ton, and the premium on the plate was around 40 yuan / ton, but the market was light and the actual transaction was rare
.
At present, overseas macro risks are large because of the high US dollar, and Lun Aluminum maintains low volatility
.
Domestic fundamentals remain unchanged, and the expectation of consumption improvement after September is still maintained, and more orders
can be laid out around the low level of 13,700 yuan / ton.
