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On Thursday, the main 1707 contract of Shanghai aluminum opened slightly lower to 13755 yuan, after which the price remained volatile, and touched the intraday high of 13810 yuan, the price continued to rise in the afternoon and once turned red to 13890 yuan, but then the price fell sharply below 13800 yuan, and closed at 13805 yuan, down 80 yuan, down -0.
58%.
Externally, the LME aluminum March contract opened at $1928, and then rushed higher at $1934 to begin to come under pressure, the price fell slightly to $1926, rebounded slightly before the midday close, and continued to fall to $1924.
5 in the afternoon, after which it rebounded
.
As of the Asian market close, it closed at $1929.
5, down $1, or -0.
05%.
In terms of the market, the transaction volume of the mainstream trading hours of the spot market has picked up, after the price of aluminum has stabilized, downstream procurement has begun to increase, traders' willingness to receive goods has been boosted, and the holders have the willingness to hold up prices, turning to a small amount of premium before noon, and the transaction situation is acceptable
.
In the afternoon, the price rebounded, the holders were reluctant to sell, shipments decreased, and the price was once b60 yuan / ton shipment, but with the tail aluminum price falling, the overall trading situation was light
.
In terms of news, the market atmosphere has not warmed, the black series is still in the process of bottoming, Caixin PMI data contracted for the first time in nearly a year, all of which formed a selling pressure on the morning market, the aluminum market due to the policy left and right the market performance resistance, in the afternoon in the egg limit driven by the next close to red, but helpless capital profit taking mentality is heavier, the end of the day by the A-share diving affected, aluminum prices again plunged to the morning opening price nearby
.
On the technical side, the main KDJ dead fork and MACD dead cross of Shanghai aluminum face short-term support
at 13,600 yuan.
It is expected that the current price difference will continue to maintain a large discount, and the quotation may fall to around
13600 yuan / ton.
