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On Friday, the morning Shanghai aluminum 1711 contract opened at 16630 yuan / ton, the early bulls actively entered the market to push up the aluminum price slightly higher 16695 yuan / ton, the capital for 16700 yuan / ton first-line resistance is more important, so the high empty into the multi-flat aluminum price down to 16565 yuan / ton, but the bears did not chase the short, Shanghai aluminum low slowly upward, afternoon bulls again, pull up aluminum price shock upward touch 16750 yuan / ton, the end of the session bears to meet head-on, Shanghai aluminum gave up part of the rise to close at 16705 yuan / ton
。
In terms of the external market, Lun aluminum opened at 2104 US dollars / ton in the morning, and at the beginning of the session followed Shanghai aluminum upward to touch 2112 US dollars / ton and then quickly leaked, continued to test to 2092 US dollars / ton, 5-day moving average support showed again, Lun aluminum low back up slowly upward, in the afternoon again touched 2112 US dollars / ton but failed to continue to rise, and at the end of the Asian market gave up part of the gains, into the European trading session Lun aluminum continued to fluctuate down, found support at the daily moving average, as of 17:03, Lun aluminum reported 2105 US dollars / ton, LME aluminum inventory has increased day after day, inventory inflection point has been established, it is expected that the overall trend of London aluminum next week is weaker than Shanghai aluminum, or will run at 2070~2130 US dollars / ton
.
In terms of the market, aluminum futures fluctuated
widely before noon that month.
Shanghai transaction concentration 16190-16210 yuan / ton, the month discount 230-210 yuan / ton, Wuxi transaction concentration 16180-16200 yuan / ton, Hangzhou transaction concentration 16190-16210 yuan / ton, Shanghai holders shipments normal, Wuxi holders shipments are more active, middlemen still maintain a cautious attitude, downstream enterprises weekend stock just demand, receiving goods slightly rebounded, the overall transaction is slightly better than yesterday, but the overall still shows an oversupply pattern
.
In the late afternoon, aluminum pushed up again that month, and East China traded 16290-16300 yuan / ton
.
Recently, domestic aluminum prices continue to consolidate at a high level, because aluminum prices have accumulated huge gains, the market is wary of the risk of high pullback, so most aluminum factories are still digesting inventory, profit shipments, resulting in the continuous increase of aluminum inventory, but the industry continues to be bullish on the aluminum market
.
It is expected that aluminum prices will continue to fluctuate at a high level next week, and in the context of the market atmosphere is still more, aluminum prices will still be prone to rise and fall
.
