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Last Friday, the main contract of Shanghai aluminum opened at 14190 yuan / ton in the morning, and after the opening of Shanghai, aluminum hit the intraday low of 14650, and the short profit left, and the intraday Shanghai aluminum shock strengthened
.
In the afternoon, Shanghai aluminum broke through the 5-day moving average upward, touched 14240 yuan / ton at a high and closed at 14225 yuan / ton
.
After a week of corrections, bears also took profits and exited the market
.
In terms of external trading, Lun aluminum opened at 1795 US dollars / ton
in the morning.
During the Asian session, Lun aluminum was weak and volatile, the low touched the 5-day moving average, and as of 15:00 Lun aluminum was reported at 1797 US dollars / ton
.
During the European session, Lun aluminum tried to rush higher, the high once touched 1801 US dollars / ton, reached the 10-day moving average position, the upward momentum is insufficient, Lun aluminum quickly fell, the low refreshed to touch 1790.
5 US dollars / ton, as of 18:10 Lun aluminum reported 1793.
5 US dollars / ton, oscillating near
the 5-day moving average.
In the spot market, aluminum fluctuated in the early part of the month, and began to rise
after 10:30.
In the morning, the spot quotation of Shanghai Wuxi market in the two places is between 14270-14290 yuan / ton, between 30-40 yuan / ton on the plate, after 10:30 with the sharp rise in the spot price of aluminum began to concentrate between 14300-14320 yuan / ton, between 30-40 yuan / ton on the opposite plate, at this time the spot price rose nearly 40 yuan / ton from the previous day, and the morning spot price in Hangzhou was between 14300-14310 yuan / ton, and the later shipment willingness of the holder to reduce the
。
In the morning, Shanghai and Xi holders shipped OK, led by a large number of acquisitions, the transaction was good, but it was difficult to reach agreement with the middleman on the price, the transaction was slightly deadlocked, with the rise of aluminum, the shipper's shipment converged, the middleman at this time although the price increased to receive the goods, but the shipper began to show the price of the sale, the transaction activity declined
.
Downstream manufacturers consider the weekend production demand, still can still have some stocks, but the price is slightly wait-and-see, and has not yet shown a clear National Day stocking rhythm
.
In the late afternoon, aluminum maintained range volatility, some holders in the market quoted around 14310-14320 yuan / ton, and the premium of the plate was between 30-40 yuan / ton, only a small number of transactions between traders, and the downstream was light
.
After nearly half of the downstream demand expectation of "Golden Nine Silver Ten", coupled with the gradual announcement of the resumption of production by electrolytic aluminum companies that had previously suddenly reduced production, the confidence of bulls was insufficient, and the upward impulse of Shanghai aluminum was significantly weakened
.
At the same time, the supply pressure brought by the resumption of long-term electrolytic aluminum production has become relatively strong, and some bears have begun to enter the market
.
It is expected that Shanghai aluminum will maintain range volatility next week, mainly leaving the market, and wait for the landing of the policy after the eleventh national holiday
.
