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On Thursday, aluminum prices rebounded, and bears significantly reduced their positions
.
Shanghai aluminum volatility strengthened, trading at 13740-13820 yuan / ton, and closing at 13805 yuan / ton at the end of the day, up 0.
73%
on the day.
In the external market, as of 15:32 Beijing time, the three-month Lun aluminum was reported at 1957 US dollars / ton, up 0.
13% on the day, and the upper pressure level was concerned at 1970.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated in 13740-13760 yuan / ton, the discount was 40 yuan / ton - 30 yuan / ton for the month, the transaction price in Wuxi was concentrated in 13740-13760 yuan / ton, and the transaction price in Hangzhou was concentrated between
13760-13780 yuan / ton.
The overall shipment of the holder during the day is more active, the price difference of aluminum back gradually narrows, and the willingness of middlemen to receive goods has converged, due to frequent price fluctuations in recent days, the length of time falls, and there is little stock downstream except on-demand procurement, and the feedback of receiving goods is more general
.
In terms of news, the Asian dollar index was weak, now trading around 96.
620, affected by the rise in the US stock market, the market risk aversion has improved, and the dollar index weakened
slightly.
In terms of industry, the World Bureau of Metal Statistics (WBMS) released a report showing that the global primary aluminum market supply shortage from January to September 2018 was 206,000 tons, down 437,000 tons from 643,000 tons in January to August, and the shortage has narrowed
.
In September 2018, global primary aluminum production was 4.
9345 million tons, and consumption was 4.
8975 million tons
.
From January to September 2018, global primary aluminum production increased by 0.
3% year-on-year, and global primary aluminum demand fell by 1.
5%
year-on-year.
Among them, China's primary aluminum production is estimated at 24.
999 million tons, accounting for 56%
of the world's total production.
Shanghai aluminum volatility strengthened during the day as the dollar weakened and upstream alumina prices firmed
.
On the technical side, the MACD indicator gradually rose, the red column expanded, but the futures price is still under pressure near the 10-day moving average, and the future market is concerned about whether the futures price can effectively break through the pressure of the
10-day moving average.
Operationally, it is recommended that the Shanghai-aluminum 1901 contract can consider choosing an opportunity near 13750 yuan / ton, and the stop loss refers to 13650 yuan / ton
.