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Overnight, the main force of Shanghai aluminum opened at 14325 yuan / ton, opening long light entry, the price climbed slightly to 14355 yuan / ton, but unexpectedly the bears waited for the opportunity to increase positions, quickly swallowed more than half of the gains, the price pullback, a small number of long profits at the end of the session, and finally closed at 14325 yuan / ton, down 10 yuan / ton from the closing price of the day, down 0.
07%, and the position increased by 1314 hands to 365,000 hands
.
The supply side of electrolytic aluminum has signs of repair and recovery, and it is expected that today's operating range is between 14300-14400 yuan / ton, and the spot liter discount is between
10 yuan and 30 liters.
Caixin China's manufacturing PMI for January, released on February 1, recorded 48.
3, down 1.
4 percentage points from December 2018 and the lowest since March 2016, indicating a further slowdown in China's manufacturing operation, sluggish domestic demand led to a general decline in the total number of new business, the new orders index fell to a more than three-year low in the month, and the output index fell below 50 for the first time in two and a half years
.
That reinforces fears that
China's economy is slowing at an accelerating pace.
This shows a further slowdown
in manufacturing operations.
The price of AOO aluminum ingots in East China was 14,340 yuan / ton, down 80 yuan
.
According to data from the World Bureau of Metal Statistics, the global supply of primary aluminum in the first half of the year was 492,000 tons, the demand increased by 543,000 tons year-on-year to 31.
1 million tons, and the output increased by 573,000 tons year-on-year; the increase in domestic new production capacity put pressure on aluminum prices, and it is expected that today's Shanghai aluminum fluctuates in a narrow range, and spot aluminum prices may not rise or fall much
.