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On Wednesday, the Shanghai aluminum main 1812 contract opened on a long black line in the morning, touching the intraday low price of 14285 yuan / ton, and then by several waves of bulls entering the market, Shanghai aluminum climbed to the intraday high of 14345 yuan / ton, but continued upward momentum is insufficient, Lun aluminum around 14300 yuan / ton wide fluctuations, the highest is only 14320 yuan / ton, the lowest touch 14285 yuan / ton
.
The day ended at 14,300 yuan / ton, up 80 yuan / ton, or 0.
56%.
In terms of external trading, Lun aluminum opened at 2038 US dollars / ton in the morning, the Asian market briefly climbed nearly 2040 US dollars / ton, with the US dollar all the way back up, Lun aluminum under pressure daily moving average, around 2030 US dollars / ton and its narrow fluctuations, in the afternoon, Lun aluminum low rise, out of the suppression range, first rush 2040 US dollars / ton, after entering the European trading session, along the 5-day line continued to climb, exploring the highest price of the day of 2044.
5 US dollars / ton, LME aluminum inventory announced continuous increase, and then increased by 85725 tons, So far, it has been two days to increase a total of 155,000 tons, leading the increase of non-ferrous metals, Lun aluminum affected by the news, diving a long black line, recorded the lowest price of the day 2024 US dollars / ton, as of 17:50, Lun aluminum closed at 2027 US dollars / ton, down 10 US dollars / ton, down 0.
47%.
In terms of the market, the center of gravity shifted upward in the volatility of the month
.
Shanghai transaction concentration 14260 ~ 14290 yuan / ton, for the month discount 60 ~ 50 yuan / ton, Wuxi transaction concentration 14260 ~ 14290 yuan / ton, Hangzhou transaction concentration 14280 ~ 14300 yuan / ton
.
The aluminum contract in the past three months has been inverted again, which is not conducive to the preservation of value of the holders, the shipment attitude is positive, the middleman has no room for operation, the downstream enterprises do not recognize the price, the willingness to receive goods has declined, and the overall transaction supply exceeds demand
.
In the afternoon, under the condition of aluminum shock, East China spot floated down to 14240~14260 yuan / ton
.
Continuing the good trading atmosphere of the previous day, the center of gravity of Shanghai Aluminum has shifted slightly upward, but considering the recent fundamental costs and the impact of bearish news on the consumer side, the short-term upside is limited
.
It is expected to continue to test the 10-day moving average, paying attention to the impact of external guidance and macro data such as China's social financing scale and new RMB loans in September on aluminum prices
.
