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Overnight, the Shanghai aluminum 1903 contract opened at 13375 yuan / ton, after the opening of the bears continued to increase the market, aluminum prices under pressure to leak the low level touched 13290 yuan / ton, continue to refresh the new low since January 2017, but at the end of the session with the sharp rise of Lun aluminum, Shanghai aluminum bears hedging the market, aluminum prices rose to 13415 yuan / ton, closing at 13395 yuan / ton
.
It is expected that today's Shanghai aluminum 1903 contract will fluctuate at 13350-13450 yuan / ton, and the spot discount will be 80-40 yuan / ton
.
In the morning, the overall transaction volume of the spot market tended to decline, and middlemen were still active, but downstream receiving goods was cautious
as prices continued to fall.
The mainstream trading price in Shanghai is around 13290 yuan / ton, which is about 20 lower than the futures near-month contract
.
The mainstream transaction price in Guangdong is around 13380 yuan / ton
.
With the Spring Festival approaching, domestic consumption is weakening, the operating rate of some aluminum processing enterprises has decreased significantly, and there is no reduction in production and new production capacity continues to be put on, the domestic market has entered the accumulation stage, and prices are under pressure
.
The operation suggests rebounding the idea
of shorting.
