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Today's Shanghai aluminum main 1611 contract center of gravity moved down again, opening overnight at 12025 yuan, continuing the night trend after the opening of the day, falling back in the afternoon, the lowest to 11835 yuan, and finally closed at 11875 yuan, down 150 yuan, down 1.
25%.
In terms of external trading, today's London aluminum LME was volatile in March, opening at $1565, the lowest at $1562, the highest at $1567, and the Asian session ended at $1565, closing flat
.
On the macro front, since mid-August, concerns about increased production due to the possible resumption of production by Chinese smelters have begun to spread, coupled with demand has not yet picked up, and doubts about the Fed's interest rate hike in September have lingered.
Although aluminum prices have rebounded slightly this week, the price rebound is still weak, and the industry generally expects short-term aluminum prices to still fluctuate in a narrow range, and they have purchased
on demand.
In terms of the market, today's Shanghai Nonferrous Metals Trading Center spot aluminum quotation in the morning was 12570-12610 yuan / ton, up about 10 yuan / ton from the previous trading day, and the premium was reported at C25-B15
.
The spot aluminum index of the Shanghai Nonferrous Metals Exchange Center was at 12587.
45 points, up 10 points
from the previous session.
The last trading day before the holiday is not optimistic, the market supply is still sufficient, the morning spot aluminum quotation in the Yangtze River average price of +1 ~ +20 yuan / ton is about +1 ~ +20 yuan, but the buyer generally wait-and-see mood is stronger, traders are generally willing to receive goods, downstream consumer enterprises in the G20 shutdown, more choose the Mid-Autumn Festival holiday after the resumption of work, pre-holiday reserve is few, maintain a cautious attitude
.
Although the outer plate of aluminum continued to fall to the recent low, but the domestic Shanghai aluminum is not significantly affected, maintain the anti-fall operation, mainly the current month of Shanghai aluminum forced position into the final stage, it is estimated that after the holiday the current month of Shanghai aluminum premium will have a fallback correction, the range of preliminary estimated space is about
300 yuan per ton.
In this abnormal forced position environment in the current aluminum market, spot merchants should pay attention to the risk of price correction in the month, and it is estimated that the current aluminum price will have a demand
to make up for the decline after the holiday.
