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On Wednesday, the Shanghai aluminum main 2006 contract opened lower at 11535 yuan / ton
.
After the opening, the market hesitated briefly, then entered the short flat, and the market tried to return to the previous day's closing level, and finally closed at 11620 yuan / ton
.
The daily candlestick closed a small white candle, unchanged
from the previous day's close.
In terms of external disk, Lun aluminum opened at 1479 US dollars / ton
in the morning.
During the Asian session, the market fluctuated slightly to the upside, and at the end of the Asian session, it struggled to reach the highest level of the day at 1485 US dollars / ton, and then fluctuated downward at the beginning of the European session, closing at 1462.
5 US dollars / ton as of 18:24, giving up all the gains of the day
.
The daily K-line temporarily closes a small black candle, mainly with long positions reduced
.
Last day's macro optimism subsided significantly, and Lun Aluminum followed the decline of overseas metals and had a further downward trend
.
The current overseas supply-side production reduction is very limited, but the demand weakens significantly, and the daily London aluminum inventory increased by another 13,700 tons, and most of the increase came from Asian warehouses, so the fundamentals are weak and the pattern is difficult to change, it is expected that the short-term Lun aluminum will still try to test the 1450 US dollars / ton position
.
In the market, aluminum prices fluctuated upward before
noon.
In the morning, Shanghai Wuxi area holder quotation between 11540-11560 yuan / ton, from the previous day price fell around 90 yuan / ton, with the rise of aluminum prices, after 11:00 holders quotation began to concentrate between 11580-11590 yuan / ton, Hangzhou area noon price concentrated between
11570-11580 yuan / ton.
Morning holders shipments are more active, middlemen trading is acceptable, with the rise of aluminum prices, holders of shipments converge, although the middlemen have demand for goods, it is difficult to complete the transaction
at this time.
Downstream on-demand procurement within the day, due to the decline in aluminum prices slightly stocked
.
The overall transaction in East China was acceptable
.
In the late afternoon, aluminum was mainly range-bound, and the price of the holder was around 11620 yuan / ton, and the discount on the plate was about 10 yuan / ton, and the overall light was almost no transaction
.
The news of domestic tax reduction and RRR reduction continued to ferment during the day, and the feedback was shown that the 06 contract bulls increased their positions significantly, but under the background of weak fundamentals, the trend of Shanghai aluminum is difficult to break away from the 5/10 daily moving average, and the short-term operating range is expected to be 11500-11650 yuan / ton
.
