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Overnight, the main 1710 contract of Shanghai aluminum opened sharply higher than 16610 yuan, after which the price shock rebounded to 16650 yuan, and later the price fell slightly back to around 16510 yuan, and finally closed at 16585 yuan, up 215 yuan, or 1.
31%.
In the external market, the LME aluminum 3-month contract soared to $2,139 after the Asian market closed, and the price fell slightly to around $2,120 in the evening, and the price rebounded slightly before the close, closing at $2,128, up $35, or 1.
67%.
In terms of the market, the reduction of aluminum market production has generally settled, and the recent price of alumina and pre-cultivated anode has continued to rise, compressing the profit margin of electrolytic aluminum enterprises, and the cost support factors below are strong
.
But at present, inventories have increased significantly, and short-term pressures remain
.
Recently, due to the soaring price of aluminum and scrap aluminum, some small recycled alloy enterprises in Henan have been unable to bear losses and chose to refuse to accept orders, temporarily suspended production and waited, and exceeded the expected raw material prices for the downstream of the aluminum industry to varying
degrees.
South China aluminum market, today South China aluminum ingot quotation of 16260-16360 yuan, the average price of 16310 yuan, up 90 yuan
.
The market is abundant, the early transaction was between 16300-16310 yuan, and then the futures rose, and the spot transaction price rose to around 16320-16340 yuan, which was -10~30 yuan
higher than the average price of South China Reserve.
East China aluminum market, South Reserve East China aluminum ingot quotation 16200-16240 yuan, the average price of 16220 yuan, up 80; Yangtze River 16180-16220, 16200 up 70
.
Today's Yangtze River quotation is lower than market expectations, the current price spread of the delivery month continues to be high, traders enter the market arbitrage operation is more active, the downstream is near the weekend of small stocking, the market transaction is slightly active
.
The mainstream transaction price of Wuxi and Shanghai fluctuated at 16190-16260 yuan / ton, which was 30 to 40
higher than the average price of South Reserve East China.
On the technical side, the main KDJ golden fork and MACD dead cross of Shanghai aluminum have strong support at 16,000 yuan below the price, and strong pressure at 16,800 yuan above the short-term, and it is expected to be difficult to break through
.
It is expected that today's spot price may continue to remain around
16200 yuan / ton.
