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On Friday, the main force of Shanghai aluminum 2005 opened at 11650 yuan / ton
in the morning.
After the opening, the short profit closed, and Shanghai aluminum continued to fall to the low to touch the 5-day moving average of 11575 yuan / ton
.
Then the low led the bears to profit out of the market, the bulls chased before the afternoon, Shanghai aluminum quickly rebounded to repair the intraday decline, the end of the session bulls increased positions again, Shanghai aluminum high touched 11780 yuan / ton, closed at 11740 yuan / ton, up 0.
86%.
In terms of external disk, Lun aluminum opened at 1543 US dollars / ton
in the morning.
Lun aluminum still oscillated in a narrow range around the 5-day moving average, and strengthened slightly in the afternoon, breaking through the 5-day moving average high to touch 1556.
5 US dollars / ton, and as of 15:00 Lun aluminum reported 1550 US dollars / ton
.
During the European session, the volatility of London aluminum intensified, and the weak shock touched a low of 1540 US dollars / ton, as of 18:35 Lun aluminum was reported at 1546.
5 US dollars / ton, and the daily K line showed a doji.
In terms of aluminum prices, although aluminum prices began to rebound in the middle of the week, the magnitude was still relatively limited, with the main force of Shanghai aluminum falling by 1205 yuan / ton in two weeks, a cumulative decline of 9.
3%, and the Shanghai-London ratio once fell to around 7.
2, hitting a new low
in April 2019.
In the spot market, aluminum prices fluctuated upward
before noon.
Shanghai Wuxi area of the holder quotation between 11510-11530 yuan / ton, down from the previous day price of around 30 yuan / ton, the opposite plate discount 90-70 yuan / ton, Hangzhou area price between 11510-11530 yuan / ton
.
Intraday trading between traders was flat, holders shipped normally, and middlemen were also willing to receive goods, but the two sides were slightly deadlocked on the transaction price
.
Downstream intraday on-demand procurement is the mainstay, because there is a demand for stocking near Friday, and intraday receipt is acceptable
.
The overall intraday transaction in East China is average
.
Aluminum continued to rise in the late afternoon, the market heard that there were sources of transactions around 11610 yuan / ton, about 100 yuan / ton on the plate, only a small number of transactions between traders, almost nothing
downstream.
Considering that the overseas epidemic is still in the outbreak period and has not yet been controlled, the Lun aluminum continued to weaken and repair the ratio during the week, and the Shanghai ratio was 7.
5 by Friday afternoon, returning to last week's level
.
It is expected that the overseas impact of the epidemic may still intensify, and the pattern of strong and weak outside will remain in the short term, and next week, Lun aluminum will run at 1500~1560 US dollars / ton
in March.
Intraday market rumors of tax cuts may give the market a boost
.
Next week, it is still necessary to continue to pay attention to various consumption stimulus policies and the possibility
of subsequent electrolytic aluminum companies reducing production and expanding the scale.
It is expected that the main force of Shanghai aluminum will run at 11400~11900 yuan / ton, and the center of gravity will rise
slightly.
