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On Wednesday, the main force of Shanghai aluminum was replaced by the 2006 contract
.
In the morning, the main force of Shanghai aluminum opened at 11570 yuan / ton
.
After the opening, the bulls increased their positions, Shanghai aluminum crossed the 5-day moving average high to touch the 10-day moving average of 11655 yuan / ton, and then the high led to short positions, Shanghai aluminum quickly fell back, and maintained a range fluctuation near the 5-day moving average before noon
.
In the afternoon, Shanghai aluminum dived, and maintained a relatively low level of shock, and Shanghai aluminum continued to weaken at the end of the session, and the low once touched 11425 yuan / ton, closing at 11445 yuan / ton
.
In terms of external disk, Lun aluminum opened at 1527 US dollars / ton
in the morning.
During the Asian session, Lun aluminum maintained a narrow range, and the afternoon high once touched the 5-day moving average of 1529.
5 US dollars / ton
.
In the afternoon, Lun aluminum weakened, and as of 15:00, Lun aluminum was reported at 1518 US dollars / ton
.
During the European session, Lun aluminum accelerated its decline, and continued to weaken the low level once touched 1496 US dollars / ton, which has touched the lowest level
since March 2016.
As of 17:23, Lun aluminum was reported at $1500.
5 / ton
.
In the spot market, aluminum prices remained range-bound
before noon.
The quotation of cargo holders in Wuxi area of Shanghai is between 11510-11530 yuan / ton, which is about 30 yuan / ton higher than the previous day, and the price of 50-30 yuan / ton is around the price of 50-30 yuan / ton on the plate, and the price in Hangzhou is between
11540-11560 yuan / ton.
The recent market spot easing situation is not as good as last week, some upstream electrolytic aluminum plants shipped less, the performance is reluctant to sell, the supply of goods in the hands of traders is slightly tight, the intraday receipt is very positive, the price of the holder is obvious, in addition, a large account began this month's procurement plan within the day, on the whole, intraday traders are acceptable
.
Downstream purchases are still normal within the day, and the willingness to receive goods is average
.
In the late afternoon, aluminum fell, and a small number of holders quoted around 11460 yuan / ton, and the opposite surface was discounted around 30 yuan / ton, and there was almost no transaction
.
According to statistics, unwrought aluminum and aluminum products, aluminum products, and other aluminum-containing terminal exports account for about 24% of the total domestic consumption, and the current overseas epidemic continues, and the downstream of aluminum prices generally express concern
about export orders in April-May.
At present, only cables, building materials and other sectors are relatively optimistic
about orders in April and May due to the relatively low proportion of exports and expectations for domestic infrastructure investment.
Overall, Shanghai Aluminum is still under pressure above the top, and it is still necessary to wait for the overseas epidemic to be controlled or the domestic consumption stimulation policy to land
.
