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On Tuesday, the main 1711 contract of Shanghai aluminum opened from the overnight high in the morning, and then the price fell all the way to the end, the lowest fell to 16450 yuan, and finally closed at 16460 yuan, down 155 yuan, or 0.
93%.
Index positions increased by 26,122 lots to 989,000 lots, and the volume expanded to 791,000 lots
.
In the external market, the LME aluminum March contract immediately adjusted and fell to $2156.
5, after which the price rebounded slightly to around $2170 and came under pressure again, closing at $2160, down $11, or 0.
51%.
In terms of news, after the National Day holiday, the social aluminum ingot inventory reached a new high, the news did not further favorable outflow, aluminum prices short-term follow the overall atmosphere of the market operation, in the black short situation, aluminum prices fell sharply and there is a breaking trend, but due to the current deadline for supply-side reform, the decline in the aluminum market may be limited
.
In terms of the market, the trading level of the mainstream trading period of the spot market is general, the price fell after the quotation of the Yangtze River, the holders were reluctant to sell, shipments were reduced, and the middlemen received goods at a low price, but the overall trading of the market was general, the downstream wait-and-see mood was strong, and there was no replenishment behavior, and the spot premium returned to the large discount C220-C180 yuan / ton
.
During the National Day, the market arrival increased, making the trend of aluminum prices weak, Shanghai aluminum opened high and low today, the main 1712 contract closed down 0.
93% to 16460 yuan, down 155 yuan from the previous trading day; Due to the lack of positive news support, the weak aluminum price continued, and the main short-term material of Shanghai aluminum fluctuated around 16,500, and the support of the 16,000 mark below was obvious
.