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Today's Shanghai aluminum main 2007 contract opened at 12950 yuan / ton in the morning, the beginning of the session met with short positions to reduce positions, aluminum prices slightly higher intraday high of 13020 yuan / ton, continue to upward performance is weak, and then the high fell all the way down all the way down, during the short hovering at 12900 yuan / ton failed to receive relevant guidance, the afternoon continued the downward path, the low fell to 12640 yuan / ton, the end of the day first fell and then rose, finally closed at 12775 yuan / ton, down 95 yuan / ton, down 0.
74%.
。 Today's National Two Sessions officially kicked off, focusing on the focus of market attention and the announcement of relevant news on the guidance of market sentiment and position changes in the night market
.
From the perspective of supply and demand, the downstream initiative replenishment and hoarding are gradually coming to an end, while the downstream aluminum processing industry has not exceeded the level of the same period from the perspective of operation, so it is difficult to see a better price push logic
.
However, although the market tends to be cautious at present, it is not pessimistic, firstly, the performance of the social treasury is still policy expectations such as destocking and tax reduction at the two sessions, and secondly, Shanghai aluminum presents a large BACK structure, and the psychology of shorting is temporarily "inappropriate"
.
In addition, the import window of aluminum ingots continues to open and is still rising, which is one of the unreasonable phenomena in the industrial chain, and also lays the groundwork for the weakening of prices in the later period
.
More attention should be paid to the downstream late orders, if the order is not satisfactory, it may throw the stockpile to the market, causing double pressure
on the market.
In addition, due to factors such as financial and accounting appraisals in June, production activities may be suppressed to a certain extent, which is also a factor
to be considered.
This week is the moment of the two sessions, and the market should also remain cautious when it is optimistic, and it is recommended to wait and see or short-term, but the rapid rise in aluminum prices can be a high and short
.
