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On Thursday, Shanghai aluminum opened at 14225 yuan / ton in the morning, boosted by the news of Weiqiao production cuts, aluminum prices fluctuated upward after the opening, high bears faced head-on, aluminum price trend has been repeated, but the center of gravity continued to move slightly up to touch 14355 yuan / ton, the early entry of the long market at the end of the session concentrated exit, Shanghai aluminum gave up part of the gains, closing at 14320 yuan / ton
.
The news of production reduction continues to ferment, and in the short term, it is still necessary to pay attention to whether aluminum companies in Shandong have new production reduction actions, and the Shanghai aluminum operating platform has moved up again, and the recent target level has been renewed
day by day.
In terms of external trading, Lun aluminum opened at 1888 US dollars / ton in the morning, and during the Asian market Lun aluminum followed Shanghai aluminum to rise slightly, touching 1903 US dollars / ton, but the resistance of the 1900 US dollars / ton integer mark is strong, and it is always difficult to form an effective breakthrough, entering the European trading session, Shandong aluminum enterprises cut production news fermentation, stimulating Lun aluminum to rise rapidly, the high touched 1943 US dollars / ton, a large white line repaired all the declines this week, the high part of the short profit, as of 17:26, Lun aluminum reported 1933 US dollars
。
In terms of the market, aluminum futures opened up before noon that month, and suddenly rose by 70 yuan / ton at 10:30, and then fluctuated
at a high level.
Shanghai transaction concentration 14030-14070 yuan / ton, for the month discount 70-50 yuan / ton, Wuxi transaction concentration 14030-14070 yuan / ton, Hangzhou transaction concentration 14050-14070 yuan / ton
.
At the beginning of the opening, the holders waited and watched, the quotation was cautious, forming a phenomenon of reluctance to sell, but with the sharp rise in the future, the holders were actively shipping at high prices, the spot discount narrowed, the activity of middlemen weakened, and the downstream enterprises were afraid of heights only according to the purchase of just needs, and the overall transaction turned cold
compared with yesterday.
In the late afternoon, aluminum fluctuated at the high level of the month, and East China traded 14050-14070 yuan / ton
.
On the news front, oil prices rose on Wednesday, holding on to some of their earlier gains as a report showed a sharp drop in U.
S.
crude inventories offset weak gasoline demand data
.
Gold rose on Wednesday, moving further away from a nearly four-month low hit this week as a speech by U.
S.
Federal Reserve Chair Janet Yellen dampened speculation
that the U.
S.
has raised interest rates more than once for the rest of the year.
Shortly after Yellen's speech, U.
S.
federal funds rate futures suggested that traders were expecting a 53% chance of a Fed rate hike at its December policy meeting, compared with 60%
before Yellen's speech.
LME three-month aluminum fell 0.
6 percent to $
1,889.
Intraday Shanghai aluminum main force 1709 contract volatility higher, the tail market closed at 14320, the price in the 14000 line consolidation after the higher, momentum, short-term to rise, rebound to see around 14500, light position long ideas mainly, intraday sharp fall can continue to take back long orders
.
