September 27 aluminum market brief comment

On Thursday, the main 1911 contract of Shanghai aluminum opened at 14120 yuan / ton
in the morning.
After the opening of a slight shock high touched 14125 yuan / ton, then profit bulls continued to leave the market, Shanghai aluminum quickly declined, after the first trading session, Shanghai aluminum has fallen below the 60 moving average
.
Then the bears chased after the victory in the afternoon, and the aluminum price continued to fluctuate downward after the entry
.
In the afternoon, after the low of Shanghai aluminum touched 14,040 yuan / ton, a small number of short profits left the market, and Shanghai aluminum temporarily stopped falling, but did not boost bulls' confidence
.

South China South China aluminum ingot quotation of 14180-14280 yuan, the average price of 14230 yuan, down 100 yuan, the premium of the month 85 yuan, traders before the holiday dumped goods to realize, futures prices downward spot and fall, premium rapidly narrowed, demand performance was weak, and the overall trading was few
.
The mainstream transaction price is concentrated between 14160-14230 yuan, which is a premium of -70~0 yuan
compared with the average price of South China.

Nanchu East China aluminum ingot quotation 14180-14220 yuan, the average price of 14200 yuan, down 80
.
Yangtze River: 14170-14210, 14190 down 90
.
Holders of goods before the holiday are actively dumping, middlemen are hesitant to receive goods, the market circulation is abundant, coupled with the continuous decline of aluminum prices, spot transaction prices follow the decline, today's East China overall transaction is average
.
The spot transaction price is concentrated in 14150-14200 yuan, which is -50~0 yuan higher than the average price of South China East China
.

Intraday aluminum ingot inventory fell by 27,000 tons per week to continue to maintain smooth destocking, the bears pursuit is relatively limited, it is expected that as the bulls continue to leave the market, Shanghai aluminum will test the 14,000 mark below the support
.