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On Wednesday, the Shanghai aluminum main 1806 contract continued to rise in the morning, the price rose to 14965 yuan after pullback, fell to 14810 yuan in the afternoon, and the price rose again to near the intraday high, closing at 14930 yuan, up 70 yuan, or 0.
47%.
Index holdings decreased by 1,006 lots to 803,000, and trading volume shrank to 502,000
.
In terms of the external market, the LME aluminum March contract opened a huge shock in the morning, the price rose to $2442 and then instantly fell back to $2389.
5, after the second surge of the price shock fell back to $2400 above the oscillation, the afternoon rebound rose to a high of $2450, and finally closed at $2442.
5, up $31.
5, or 1.
31%.
In terms of the market, the price of electrolytic aluminum in Shanghai nonferrous metal trading center was quoted at 14700-14740 yuan / ton, unchanged from the previous trading day, the spot discount was reported to C60-C20 yuan / ton, the morning aluminum price rushed back down, next month's VAT reduction atmosphere, the middleman shipment atmosphere is good, the holder price is still the same, the market willingness to receive goods is better, the overall trading situation is acceptable
.
In terms of news, recently, due to the US sanctions against Rusal, Rio Tinto said that the contract related to Rusal encountered force majeure, which may include alumina shipments to the joint refinery with Rusal in Australia, and the supply of bauxite to Rusal's alumina smelter in Ireland, etc.
, making the aluminum supply chain tense, and the price of alumina, the raw material for the production of aluminum, climbed
.
Overall, the recent trend of aluminum prices has been significantly affected by external fluctuations, with the global bauxite and alumina supply chain in chaos, aluminum prices have risen sharply, and investors will pay attention to Alcoa's views
on Rusal sanctions later.
Domestically, aluminum prices are mainly rising, but the overall inventory pressure is still there, and with the full liberalization of aluminum production, oversupply concerns still exist, which puts greater pressure
on aluminum prices.
On the technical side, the main KDJ golden fork and MACD golden cross of Shanghai aluminum have a strong short-term price trend, and continue to pay attention to whether 15,000 yuan can effectively break through, and the market can be dominated
by high short operation.
