The peak season is basically oriented to the good period and the momentum of aluminum is insufficient

In terms of external disk, Lun aluminum opened at 1810.
5 US dollars / ton
in the morning.
During the Asian session, Lun aluminum tried to rush higher, piercing the 5-day moving average once touched the intraday high of 1817 US dollars / ton, and quickly fell back after encountering resistance, and leaked to a low of 1799 US dollars / ton
.
And here it is supported
.
In the afternoon, Lun aluminum tried to counterattack again, and as of 15:00, Lun aluminum was reported at 1809.
5 US dollars / ton
.
During the European session, Lun aluminum continued to strengthen, crossing the 5-day moving average to smooth out the intraday decline and touch the intraday high again, as of 16:24 Lun aluminum was reported at 1816 US dollars / ton
.
From a technical point of view, the previous $1800/ton integer mark has been transformed into a support level, and it is expected that Lun Aluminum will continue to consolidate and gain momentum, and continue to try to break
through upwards in the momentum.

It is worth mentioning that a total of 3610 lots
were closed within 30 seconds before the close of the 1909 contract.
The inventory of aluminum ingots was not smooth, and the weekly inventory increased slightly by 6,000 tons
.
And due to the weakening of demand in the fourth quarter and the increase in supply expectations, as October approaches, the bulls' confidence has decreased, and some of them chose to drop their bags
.
It is recommended that bulls stay on the sidelines for the time being, and if the aluminum price breaks through 14,500 yuan / ton, they can try to open a short position on the high of the forward contract
.

In the spot market, aluminum futures fell before noon of the month
.
The morning market quotation is chaotic, the transaction price of Shanghai Wuxi market is between 14370-14380 yuan / ton, after 10:30, the market quotation of the two places is concentrated between 14390-14410 yuan / ton, the 1909 contract is reported at a discount of 10 yuan / ton to flat water, the spot price is nearly 120 yuan / ton from last Thursday, and the spot price in Hangzhou is between
14400-14420 yuan / ton 。 Aluminum opened on the downward road, all the way down, coupled with the plate back structure price difference fluctuated between 40-100 yuan / ton before the afternoon, the market quotation is more entangled and chaotic, the holder shipment is slightly hesitant, although the middleman is actively receiving goods, but the acceptable price is difficult to reach an agreement with the seller, and the buyer and seller are
deadlocked.
A large household does not purchase much, and the downstream is also more wait-and-see, returning after the holiday and the last trading day of the month, the current month and the next month contract form a back structure, and the price difference is about 50 yuan / ton The market does not show obvious willingness to receive goods, basically on demand, a small amount of replenishment
.
In the late afternoon, aluminum maintained range fluctuations, jumped sharply at the end of the day, and the market holders' quotations in the afternoon were around 14400 yuan / ton, and the premium of the 1910 contract was about 40 yuan / ton, and there was almost no transaction
.

Shanghai aluminum fell sharply yesterday, and the main contract fell back to around
14200.
Judging from the inventory data released yesterday, under the influence of the festival, the aluminum ingot library has accumulated
slightly.
The fundamentals of Shanghai aluminum are stable and good in the month, the short-term impact of supply reduction is still there, and there is still room for inventory to be dematerialized, while consumer-side automobiles and power grids are expected to usher in seasonal improvement, and real estate can play a supporting role
.
From the perspective of the plate, under the background of full reflection of the favorable situation, the upward momentum of aluminum prices to break through the pressure level is insufficient, but the basic orientation of the peak season is good, and the momentum to continue to explore is also limited, and the price may show range fluctuations
between 14200-14400.