September 24 aluminum market brief comment

On Monday, the main contract of Shanghai aluminum 1911 opened at 14230 yuan / ton
in the morning.
Shanghai aluminum today as a whole is mainly based on capital exits, long and short mutual position reduction, maintaining a narrow range
.
At the open, Shanghai aluminum touched the highest point of 14245 yuan / ton, and then maintained a narrow range of oscillation
.
In the afternoon, the long position was mainly reduced, the low of Shanghai aluminum touched 14190 yuan / ton, and the short profit left the market in the afternoon, and Shanghai aluminum pulled back slightly, closing at 14215 yuan / ton
at the end of the session.

South China South China aluminum ingot quotation of 14300-14400 yuan, the average price of 14350 yuan, up 30 yuan, the premium of the month 75 yuan, the circulation of goods is tight, the enthusiasm of the demand side to receive goods is not reduced, the basis is expanding, and the momentum of spot strength is not reduced
.
The mainstream transaction price is concentrated between 14350-14370 yuan, which is 0~20 yuan
higher than the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 14290-14330 yuan, the average price of 14310 yuan, up 30
.
Yangtze River: 14290-14330, 14310 up 30
.
The middleman entered the inquiry positively, but received the goods at a low price, the holder slightly raised the price of the shipment, the spot transaction price was relatively stable, and the transaction in East China within the day was general
.
The spot transaction price is concentrated in 14300-14320 yuan, which is -10~10 yuan higher than the average price of South China East China
.

Before the National Day, Shanghai aluminum faced the problem of expected conversion of supply pressure brought by the resumption of demand to the resumption of electrolytic aluminum production, and the profit bulls gradually left the market, but at the same time, the current stage of social aluminum ingot inventory continues to decline, aluminum price upward momentum is gradually weakening
.
It is recommended that high-cost longs can leave the market profitably, and bears try to open positions on far month contracts at high prices
.