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Shanghai aluminum opened at 14395 yuan / ton on Friday morning, bulls actively entered the market at the beginning of the session to push up aluminum prices to touch 14480 yuan / ton, high short more profit-taking, aluminum prices quickly fell back to the daily average of 14380 yuan / ton a narrow range finishing, before the afternoon and early afternoon bulls tried to enter again, Shanghai aluminum rebound touched 14440 yuan / ton line, but the 5-day moving average resistance began to appear, short into the aluminum price gradually fell to close at 14355 yuan / ton, The trading volume decreased by 113,000 lots to 326252 lots, the position increased by 1,932 lots to 323996 lots, and the position of Shanghai-aluminum 1705 contracts decreased by 3,858 lots to 116328 lots
.
Short-term policy is still one of the main factors affecting the market, but the market interpretation is divergent, and it is expected that the operating range of Shanghai aluminum next week will be large, and the center of gravity will rise
cautiously.
In terms of the external market, Lun aluminum opened at 1943 US dollars / ton in the morning, at the beginning of the day, Lun aluminum around the daily moving average narrow range oscillation, noon aluminum price shock upward touch 1964 US dollars / ton, afternoon rush back down, Lun aluminum amplitude intensified, but the center of gravity of the transaction has shifted, into the European trading session Lun aluminum continued to probe, the low once touched 1936.
5 US dollars / ton, recorded a longer upper shadow, as of 17:05 Lun aluminum reported 1942 US dollars / ton, repair part of the decline, in the short term Lun aluminum below the moving average has support, It is expected that the trend next week may still be stronger than the domestic Shanghai aluminum, pay attention to the introduction
of domestic industrial policy rules.
In terms of spot, aluminum futures fell behind around 14290 yuan / ton after a slight surge in the month
.
Shanghai transaction concentration is 14120-14140 yuan / ton, the discount for the month is 160-140 yuan / ton, Wuxi transaction concentration is 14120-14140 yuan / ton, Hangzhou transaction concentration is 14130-14150 yuan / ton
.
In the early stage of the transaction, the spot discount expanded slightly, the market restarted the bullish atmosphere, the consignee among traders was greater than the shipper, downstream enterprises were worried about the rise in aluminum prices next week, the willingness to stock up was still more positive, the overall transaction was active, and speculation and demand were equally important
.
In the late afternoon, aluminum stepped down, holders shipped at a high price, a small amount of 14160-14170 yuan / ton was traded in the early afternoon, and then aluminum declined, and the holders had no intention of shipping, and supply and demand were weak
.
Overall, the aluminum price of 14,000 yuan regained the pursuit of bottom-hunting funds, and the price recovered
.
The analysis believes that under the background of environmental protection policy pressure and rising capacity reduction expectations, aluminum prices will try to continue to rise
.
However, at present, the overall demand of the aluminum market is lower than expected, and aluminum manufacturers are still mainly purchasing or digesting inventory on demand, and traders are relatively active
in trading.
