A brief review of the aluminum market on July 15

On Monday, the main 1908 contract of Shanghai aluminum opened at 13795 yuan / ton
in the morning.
After the opening, it left the market for a short time, and the low level of Shanghai aluminum touched the 10-day moving average of 13770 yuan / ton
.
After the bears took the initiative to close their positions and leave the market, Shanghai aluminum oscillated to the upside, quickly breaking through the 5/20-day moving average barrier
.
In the afternoon, the bulls increased their positions and left the market at a high of 13885 yuan / ton, and the long and short positions left the market at the end of the session, and the shock closed at 13865 yuan / ton
.

South China South China aluminum ingot quotation 13770-13870 yuan, the average price of 13820 yuan, up 80 yuan, the month premium of 10 yuan, the morning market supply is sufficient, trading performance struggle, after futures rise, holders shipments tightened, today's market overall receipt is general, the mainstream transaction price is concentrated between 13810-13850 yuan, compared with the average price of South China South China premium -10~30 yuan
.

Nanchu East China aluminum ingot quotation 13780-13820 yuan, the average price of 13800 yuan, up 80
.
Yangtze River: 13790-13830, 13810 up 90
.
During the secondary trading session, the price of aluminum fluctuated upward, the holders were reluctant to sell at a high price, the market circulation of goods decreased, and the spot quotation was raised, but the receiver did not recognize the price highly, and the actual transaction was slightly
deadlocked.
The transaction was between 13800-13840 yuan, which was between 0~40 yuan higher than the average price of South Reserve East China
.

Today's social aluminum ingot inventory is basically flat, only an increase of 10,000 tons, while the center of gravity of the external disk is driven by the upward movement, and Shanghai aluminum rebounds
slightly.
The weakening of consumption still needs to be supported by inventory data, coupled with the increase in the expectation of interest rate cuts in overseas currencies, which has led to an upward shift in the center of gravity of Shanghai aluminum recently
.
Fundamentals still maintain a weak supply and demand, and the upper 13900-14000 is still a relatively safe shorting point
.