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On Tuesday, the main 2001 contract of Shanghai aluminum opened at 13755 yuan / ton
in the morning.
After the opening, the previous day's entry short profit exit, while driving part of the stop loss exit, Shanghai aluminum low touched 13745 yuan / ton after the low level into the short flat, Shanghai aluminum back to the higher level touched 13785 yuan / ton
.
The end of the day short more exit, Shanghai aluminum closed at the cross, closed at 13755 yuan / ton
.
Under unclear fundamentals, Shanghai aluminum maintains range fluctuations, waiting for a clear direction
to appear when the social aluminum ingot inventory increases.
It is expected that the long-short game of Shanghai and aluminum will increase, but at the same time, it is difficult to have large market fluctuations
under the short-term position band operation.
In terms of external disk, Lun aluminum opened at 1739 US dollars / ton
in the morning.
During the Asian session, Lun Aluminum maintained a narrow range below the 5-day moving average, and the volatility gradually weakened, as of 15:00, Lun Aluminum reported 1738 US dollars / ton
.
During the European session, the price of Lun aluminum first fell and then rose, first the low touched 1735.
5 US dollars / ton, with the release of the LME inventory report, Lun aluminum finally stopped increasing and there was a decline trend, Lun aluminum rebounded, broke through the 5-day moving average barrier high to touch 1743 US dollars / ton, above the pressure of the 10-day moving average
.
As of 17:30, Lun aluminum was trading at $1741/ton
.
In the spot market, aluminum futures maintained range-bound
volatility before noon of the month.
Shanghai and Wuxi market spot quotation in the month between 13970-13990 yuan / ton, compared with the previous day down nearly 70 yuan / ton around, next month spot quotation between 13960-13980 yuan / ton, the current month and next month price difference between 10-20 yuan / ton, the current month plate premium between 70-90 yuan / ton, Hangzhou spot price transaction concentrated between
14010-14030 yuan / ton.
The spot price has fallen, the willingness of middlemen to receive goods is higher, the holders ship normally, the two sides are actively trading, and the receivers are slightly more than the shippers
.
Downstream normal procurement is the mainstay, because the price is lower than the previous day, the receiving status has improved
.
In the late afternoon, aluminum continued to maintain range fluctuations, with the holder's quotation around 13990 yuan / ton, and the opposite plate premium was about 90 yuan / ton, and only a small number of transactions were made between traders
.
Shanghai aluminum fluctuated slightly during the day, and the main contract closed at 13775
.
From a fundamental point of view, the new production and resumption of electrolytic aluminum on the supply side are steadily advancing, the impact of production reduction is limited, the planned resumption of production volume within the year is still considerable, and the operating capacity of electrolytic aluminum is expected to increase
slowly.
The price of alumina at the cost end continued to decline, the market trading was light, and the profit expansion of the electrolytic aluminum industry also stimulated the launch of new production capacity
.
This week, aluminum ingot inventories continued to fall, and the volume of destocking was still considerable, the outbound performance was eye-catching, and consumption picked up
slightly.
After favorable digestion, Shanghai aluminum week or downward to find the previous low 13650 line, the overall fall space is not large
.
