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On Thursday, the main force of Shanghai aluminum opened at 13820 yuan / ton, after the opening of Shanghai aluminum fluctuation is small, maintain range shock, the end of the session base metals are down, Shanghai aluminum fell sharply, recorded a low of 13735 yuan / ton and closed at this point
.
Volume decreased by 282 to 153572 lots, and open position decreased by 8848 lots to 204732 lots
.
Holdings in the Shanghai-aluminum 1704 contract increased by 7,506 contracts to 255,080 contracts
.
Social inventories continue to rise, the continuous intensification of supply-side pressure and the recent divergence of capital operation and market trend performance, short-term long-short game intensification, Shanghai aluminum is expected to maintain range volatility
.
In terms of the external market, the morning Lun aluminum opened at 1849 US dollars / ton, the early Lun aluminum trend of the Asian market was weak, the low touched 1842 US dollars / ton, the center of gravity slowly moved up in the afternoon, the end of the Asian market dragged down Lun aluminum again fell below the daily moving average, entering the European trading session, the aluminum price at the beginning of the session intensified the shock, the high touched 1850 US dollars / ton, and then the narrow range was sorted out at the daily moving average, as of 17:04, Lun aluminum 1847.
5 US dollars / ton
.
In terms of industry, Asian Metal Network data shows that China's imported bauxite consumption in January this year was about 5.
4 million tons, an increase of 2.
2% month-on-month, and by the end of January, bauxite stocks fell 2% month-on-month to 28.
9 million tons, and Indonesia's recovery of bauxite exports had a significant
impact on raw ore prices.
In terms of the market, aluminum futures fluctuated to the downside
before noon that month.
Shanghai transaction concentration is 13590-13610 yuan / ton, the discount for the month is 110-90 yuan / ton, Wuxi transaction concentration is 13580-13600 yuan / ton, Hangzhou transaction concentration is 13570-13590 yuan / ton
。 Smelter stable shipments, futures spot price difference narrowed to around 100 yuan, a few days ago buy cash selling traders eager to take profits, a large number of shipments, Wuxi area circulation supply is sufficient, Shanghai area circulation supply is relatively small, Hangzhou area holders under the pressure of inventory to ship actively, middleman activity weakened, East China downstream enterprises have started work, but the willingness to purchase wait-and-see gradually rebounded, the overall transaction shows oversupply
.
After the aluminum rose at the end of the afternoon of the month, it fell again in the afternoon, and the downstream completed the procurement demand in the morning, and the market was relatively cold in the afternoon, and the transaction volume in Wuxi was concentrated at 13580-13590 yuan / ton
.
The price of aluminum ingots in the spot market rose sharply, resulting in a rapid convergence of discounts, and the pressure on aluminum was significantly weakened in the later stage of the disappearance of spot arbitrage opportunities.
However, from a fundamental point of view, the concern about the rapid increase in aluminum ingot inventory has not been eliminated, and if the downstream cannot digest the inventory in time, aluminum prices still face downside risks
.
On the plate, Shanghai aluminum stabilized and rebounded after receiving support at the 13,500 line, or continued to stabilize and finish, selling high and absorbing shock ideas
.
