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On Tuesday, the main 1708 contract of Shanghai aluminum immediately fluctuated lower after the opening, once fell to 13725 yuan, the price began to rebound in the afternoon, driven by the black series, the aluminum market continued to rise, rising to a maximum of 13940 yuan at the end of the day, and closed at 13930 yuan, up 55 yuan, or 0.
44%.
Index holdings increased by 2,890 lots to 489,000 lots, and the trading volume expanded to 268,000 lots
.
In terms of external trading, the LME aluminum March contract opened at $1866, and immediately after the opening fluctuated lower to $1858, after a narrow range in the afternoon, the price rose straight up, once rushed up to $1873, and closed at $1867, up $1.
5, or 0.
08%.
In terms of the market, the mainstream trading hours of the spot market are generally traded, the spot aluminum fell in the morning, the holders have a strong willingness to hold the price, and the downstream continues to wait and see after the price fall, coupled with tight funds, the market trading situation is not ideal
.
Aluminum prices rebounded slightly in the afternoon, and traders increased shipments, but after the price rose sharply again, the market was reluctant to sell
.
The overall transaction was relatively light
.
Some news pointed out that Japan's aluminum premium in the third quarter was lowered compared with the second quarter, forming a certain negative for the aluminum market in the morning, and the afternoon funds promoted the black series to rise, and the aluminum market rose with it, due to the important time node of the supply side, there are funds to try to enter the market to do more aluminum at the end of the day, and pay attention to the implementation of
subsequent supply-side policies.
On the technical side, Shanghai aluminum main KDJ gold cross, MACD gold cross, but both trend bearish, the price above the 60 moving average and 14000 yuan integer mark pressure, below will test the support at 13800 yuan, quotation or remain around
13700 yuan / ton.
