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On Friday, the main 1810 contract of Shanghai aluminum opened lower than 14880 yuan / ton, affected by China's official manufacturing PMI index in August in the morning better than expected, opening short more into Shanghai aluminum slightly higher than 14915 yuan / ton, the center of gravity before the Asian market afternoon slightly sinked, in the 14875 yuan / ton line up and down, in the afternoon, boosted by the fall of the dollar Shanghai aluminum all the way up to 14955 yuan / ton
。 Subsequently, some bulls took profits and left the market, Shanghai aluminum turned down and began to fall to 14880 yuan / ton, and sorted out the price around 14890 yuan / ton at the end of the day, closing at 14890 yuan / ton, the main force fell 80 yuan / ton, down 0.
53%.
In terms of external trading, Lun aluminum opened at 2133 US dollars / ton, and at the beginning of the session, affected by the upward trend of Argentina's currency derogatory index, Lun aluminum briefly fell to 2121 US dollars / ton
.
The trading atmosphere in the Asian market before the afternoon was relatively light, and Lun aluminum experienced two climbs to touch 2144.
5 US dollars / ton, and in the afternoon, the center of gravity of Lun aluminum sank slightly, sliding down 2135 US dollars / ton
.
Entering the European trading session, the trading atmosphere warmed up, affected by the supporting role of the 10-day line, Lun aluminum gradually rose, touching 2153 US dollars / ton along the daily moving average, and then reached 2153.
5 US dollars / ton again in the shock, basically recovering the decline since last night
.
As of 17:55, Lun aluminum closed in the sun, closing at 2150 US dollars / ton, up 21.
5 US dollars / ton, or 1.
05%.
In terms of the market, aluminum futures fluctuated
in a narrow range before noon of the month.
Shanghai transaction concentration 14770 ~ 14780 yuan / ton, for the month discount 50 ~ 40 yuan / ton, Wuxi transaction concentration 14770 ~ 14780 yuan / ton, Hangzhou transaction concentration 14780 ~ 14790 yuan / ton
.
Although downstream enterprises have weekend stock demand, they only purchase according to just demand, and the overall transaction is weaker
than the previous day.
In the late afternoon, aluminum rose first and then suppressed, and the transaction price in East China was 14820~14850 yuan / ton
.
Overall, macro news is frequent, Argentina's currency depreciation, the European Union's zero tariffs on US imported industrial products and Trump's vow to tax $2,000 of goods next week, these may affect the trend of Lun aluminum, overall the external disk is still red fat green thin, although Lun aluminum has fallen but has recovered to the price of the previous day, Shanghai aluminum prices although slightly corrected but can maintain a trend of resistance
.
Continue to pay attention to macro data
such as the US dollar index, US consumer confidence index for August and Eurozone CPI for August.
