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On Tuesday, the main 1705 contract of Shanghai aluminum closed again in the negative doji, and immediately after the morning opening fell to a low of 13540 yuan, after which the price bottomed out and rebounded, the support below was obvious, the price once rose to 13700 yuan, the price fluctuated lower again in the afternoon, and the price rose slightly at
the end of the day.
By the closing price was 13,650 yuan, down 30 yuan, or -0.
22%, the position decreased by 17,834 lots to 288,000 lots, and the trading volume shrank to 328,000 lots
.
In terms of the external disk, Lun aluminum fluctuated
in a narrow range.
The price opened low at $1926, then the price edged higher to flat at $1930, after which the price fluctuated lower, and fluctuated in a narrow range around the average price line of $1924, and the price fell again to $1917.
5 in the afternoon, rebounding
slightly before closing.
As of the Asian market closed at $1922, down $8, or -0.
41%.
Spot market: Shanghai Nonferrous Metals Trading Center (SME) spot aluminum spot trading in the morning was 13410-13450 yuan / ton, down 20 yuan / ton from yesterday, while the premium narrowed slightly to c150-c110 yuan / ton
。 Intraday Shanghai nonferrous metal trading center SME spot market mainstream trading hours trading general, near the end of the quarter, the willingness of holders to ship to realize increased, but the morning quotation late aluminum upward, the premium once returned to b50 yuan / ton, but recently affected by environmental protection review, downstream enthusiasm for goods is generally not high, market trading situation is general, late afternoon aluminum prices fall, now aluminum quotations also fell back to the level of the morning close trading period
.
News: On Monday, social stocks fell by 15,000 tons to 1.
144 million tons, and the high level of electrolytic aluminum social stocks slightly boosted market sentiment, in addition, market rumors that the introduction of electrolytic aluminum production capacity elimination policy this week will support
the aluminum market.
At present, the support near the cost line of the aluminum market is very obvious
.
Near the end of the month, due to the need for capital recovery, the enthusiasm of holders to ship is high, and the downstream continues to stay on the sidelines
.
On the industry front, Malaysia extended its bauxite mining ban until 30 June 2017 to further remove the remaining bauxite stocks, which currently have 2.
15 million tonnes remaining from 5.
4 million tonnes
before the ban.
At present, spot aluminum prices are close to the average cost of aluminum enterprises, coupled with the slowdown in the increase in spot inventory, the support below the domestic aluminum price is more obvious, and the short-term external strength and internal weakness pattern are obvious
.
Shanghai aluminum fell slightly during the day, short-term will continue to weak shock, the upper focus on whether the 14,000 yuan integer mark can stand, the lower support down to 13,500 yuan
.
