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On Friday evening, the main force of Shanghai aluminum opened at 16310 yuan / ton, the beginning of the session slightly touched 16395 yuan / ton, and then affected by the misreading of Ningxia real estate tax documents, the market as a whole entered a bearish atmosphere, Shanghai aluminum opened a downward mode dominated by long risk aversion, the low touched 16215 yuan / ton, closed at 16240 yuan / ton, the position decreased by 6822 hands to 428630 hands, Shanghai aluminum today focuses on inventory data, the expected operating range is 16000 ~ 16250 yuan / ton, spot discount 140 ~ 100 yuan/ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 16110 yuan / ton, down 150 yuan / ton from the previous week, and the discount of the near-month contract was 135 yuan / ton, aluminum prices fell continuously last week, and the downstream processing enterprises that continued to fear heights finally resumed their willingness to replenish storage, the willingness to purchase goods was extremely strong, and inventories ushered in a wave of significant decline, while holders showed a more obvious willingness to hold prices, spot discounts narrowed, and active transactions for a week
.
In terms of news, there is news that Shanxi will also join the ranks of peak production in the heating season, which will mean that the tightening of alumina supply will intensify, and its price will rise sharply again, and the cost of electrolytic aluminum will continue to rise, and the cost support will be stronger
.
However, it has not yet entered the stage of limiting production, and in the case of sluggish consumption, it is difficult to substantially improve the fundamentals, and the expectation of limiting production needs to be implemented
.
Short-term prices may maintain an oscillating pattern, and the price of the implementation of long-term production restrictions in the later period is expected to rise
again.
Operationally, it is recommended to hold a small number of long orders, and pull back to buy and increase positions
.
