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On Monday, the domestic aluminum market fluctuated, the main 1706 contract of Shanghai aluminum opened in the morning to continue the overnight rebound, the opening slightly lower and then pulled up to the highest of 14380 yuan, then under pressure to fall, fell below the average price line of 14250 yuan after the price rebounded again until the noon close, after the afternoon opening the price fell slightly above the average price line, and then maintained a volatile upward trend, closing at 14330 yuan, down 50 yuan, down -0.
35%.
Index holdings decreased by 18,726 lots to 706,000 lots, and trading volume shrank to 472,000 lots
.
In terms of external trading, LME aluminum March contract rushed back down, Monday opened high at $1937, the price immediately pulled up to a maximum of $1950 after the pressure to fall, the price fell to $1936.
5, a slight rebound in the afternoon, little price change in the afternoon, and rebounded again before the Asian market closed, and finally the Asian market closed at $1944.
5, up $9, or 0.
46%.
In terms of the market, the mainstream trading hours of the intraday spot market trading period are general, the morning holders have a reluctance to sell, the price once maintained a premium shipment, but this later price fell, the bid is mostly C10 yuan / ton to flat water price, the transaction is mainly between traders, the downstream continues to wait and see, the overall transaction situation is general
.
In the afternoon, the price rebounded, the market returned to the state of premium, and the market trading situation continued to remain average
.
In terms of inventory, the recent aluminum market is still at a high level affected by Xinjiang policies, but the spot market discount is still large, the short-term fundamental weak pattern is still difficult to change, as of this Monday, the total number of electrolytic aluminum stocks in the country is 1.
205 million tons, up 02,000 tons from last Thursday; the total inventory of 6063 aluminum rods in the main market of the country is 107,500 tons, and the overall slight increase Comprehensive inventory data continues to grow
.
At present, it is still bearish on the fundamentals of the short-term aluminum market, but the policy side provides impetus and support
for the market.
Technically, the main KDJ dead fork of Shanghai aluminum, MACD golden cross but the opening is narrowed, not too long when the upper bottom is consolidated, indicating that the support of 14,000 yuan below is strong, the bears are weakened, and the short-term aluminum price will stand firm at the 5-day moving average of 14,300 yuan
.
It is expected that the current price difference will continue to maintain a large discount, and the quotation may rise to around
14100 yuan / ton.
