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On Thursday, the main 2001 contract of Shanghai aluminum opened at 13845 yuan / ton
in the morning.
After the opening, bears poured in, and Shanghai aluminum hit a low of 13810 yuan / ton, close to the 20-day moving average
.
After the low bulls entered, the Shanghai aluminum shock rebounded
.
After the capital exited the market, the long and short closed each other, Shanghai aluminum oscillation ran between the 40/20 daily moving average, during the high touched 13870 yuan / ton, the end closed at 14865 yuan / ton, located above
the 40-day moving average.
In terms of external disk, Lun aluminum opened at 1742 US dollars / ton
in the morning.
During the Asian session, Lun Aluminum tried to repair the weekly decline, touching a high of $1747 / ton, which has not yet touched the 40-day moving average
.
After Lun aluminum quickly retreated, almost erasing the intraday gains, and mainly in a narrow range, as of 15:00 Lun aluminum was reported at 1745 US dollars / ton
.
During the European session, Shanghai aluminum fluctuations increased, LME inventories increased and the low level of shock downward touched 1735 US dollars / ton, as of 17:43, Lun aluminum reported 1740 US dollars / ton
.
In the spot market, aluminum futures maintained a narrow range until noon of the month
.
In the morning, the spot quotation in Shanghai and Wuxi market was between 14090-14100 yuan / ton, because the price rose by more than 100 yuan, the shippers shipped very positively, but the actual transaction price after the significant increase in shippers has fallen, after 10:30, the transaction price of Shanghai and tin is between 14050-14070 yuan / ton, which is up 90 yuan / ton from the previous day, and the premium of the current month is between 90-110 yuan / ton, as the spot price falls, the middleman receiving price tends to be below 14050 yuan / ton, There was a slight stalemate between the two sides
.
The spot price in Hangzhou is between 14110-14130 yuan / ton, and the quotation of Hangzhou holders is relatively firm, and the price
has not been lowered due to the light market transaction.
Recently, the decline in arrivals to major domestic consumption places has led to an increase in the decline in inventory, but the overall weak trend of consumption has not changed
.
Spot supply has tightened due to falling inventories, and futures front-month contract prices have been greatly supported, but consumption seasonally weakened and production releases are not as expected but still advancing, and aluminum prices are unlikely to rise
sharply.
Short-term aluminum prices or volatility are dominant
.
The medium term remains under pressure
.
Operationally, it is recommended to short-sell far-month contracts at high prices
.
