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On Tuesday morning, the main contract of Shanghai aluminum opened at 14090 yuan / ton, after the opening of the long and short game under the Shanghai aluminum shock downward recorded a intraday low of 14005 yuan / ton, then the 5-day moving average support first appeared, the short flat more into the lower Shanghai aluminum repair part of the decline, barely standing on the 60-day line closed at 14040 yuan / ton, the trading volume decreased to 119962 lots, the position decreased by 7974 hands to 185448 lots, the position of the Shanghai aluminum 1709 contract increased by 11386 hands to 185356 lots, and the position moved back significantly, It is expected that Shanghai aluminum will continue to test the 5-day moving average support, and the Wansi mark may be tested
.
In terms of the external market, Lun aluminum opened at 1928.
5 US dollars / ton in the morning, and the Asian session Lun aluminum was under pressure on the weak daily moving average, and the frequency of Lun aluminum shock intensified during the European trading session, and the center of gravity continued to move down, the low recorded 1919 US dollars / ton, as of 17:05 Lun aluminum was reported at 1919.
5 US dollars / ton, the evening data was light, paying attention to the domestic Shanghai aluminum trend for the traction
of Lun aluminum.
In terms of the market, the aluminum shock fell to 13960 yuan / ton, the Shanghai transaction concentration was 13850-13870 yuan / ton, the discount for the month was 110-100 yuan / ton, the Wuxi transaction concentration was 13850-13870 yuan / ton, and the Hangzhou transaction concentration was 13850-13870 yuan / ton
.
Dongfang hopes that due to production cuts, the source of circulating goods in the East China market this week has decreased rapidly, other smelters have shipped normally, traders have actively shipped at high prices, aluminum is downward, spot is not timely with adjustment, spot discount is slightly narrowed, middlemen have no room for operation, downstream enterprises are afraid of heights and only purchase according to just demand, and the overall transaction supply exceeds demand
.
In the late afternoon, aluminum fluctuated at a low level of the month, and East China traded 13840-13850 yuan / ton
.
On the news front, oil prices rose more than 2 percent on Monday, resuming their longest rally in more than five years as data showed a decline in U.
S.
oil production, but analysts said news of an increase in OPEC production could limit gains
.
After 23 consecutive weeks of increases, the U.
S
.
active rig count fell last week for the first time since January, losing two seats.
U.
S.
government data showed that oil production fell
in April for the first time this year.
LME three-month aluminium closed up 0.
4 percent at $
1,927 a tonne.
Shanghai spot aluminum ingot quotation at 13850-13890 yuan / ton, up 20 yuan / ton, discount 120 yuan / ton - discount 80 yuan / ton
.
During the day, the main 1708 contract of Shanghai aluminum fell slightly, the tail market closed at 14040, the price rose after the consolidation of the 14000 line, the momentum is up, short-term to rise, the rebound saw around 14500, light positions to do long ideas, intraday sharp fall can continue to take back long orders
.
