Shanghai aluminum contract continued to decline, and the decline widened significantly

In terms of external trading, Ashilun aluminum fell under pressure and the decline expanded significantly, of which 3-month Lun aluminum traded at 2149-2114 yuan / ton, down 1.
14% from the previous day to 2117 US dollars / ton, its performance was weaker than other base metals, and fell to the low point since October 2 this year, indicating that the upper selling pressure is heavier, focusing on the integer mark support below 2100 US dollars / ton
.

On the macro front, the Asian dollar index extended its rally and is now trading around 93.
55, marking the third consecutive day
of gains.
The market is currently focused on Fed candidates, and the market expects Trump to prefer those who are more aggressive in raising interest rates
.
In addition, China's key economic indicators for the third quarter are about to be released, and the capital market is in a wait-and-see mood
.
In the aluminum market, data from trading company Marubeni Corp showed that aluminum inventories at Japan's three major ports were 275,900 tons at the end of September, down 2.
4%
from August.

In terms of the market, on October 18, Shanghai aluminum trading concentrated 16000-16010 yuan / ton, the discount for the month was 170-160 yuan / ton, Wuxi transaction concentration was 16000-16010 yuan / ton, Hangzhou transaction concentration was 16020-16030 yuan / ton
.
After diving, the holder adopted the future-to-date aluminum discount quotation, the transaction price in Wuxi in Shanghai was as low as 15900 yuan / ton, the discount for the month shrank to 130 yuan / ton, and the price in Hangzhou fell to 15970 yuan / ton
.
Holders maintain a positive attitude towards shipment, after the aluminum dive, the attitude of shipment is still very positive, downstream enterprises are more willing to receive goods, middlemen mainly receive goods for downstream enterprises, and the overall transaction remains active
.

During the day, Shanghai aluminum 1712 plummeted to 16080 yuan / ton under pressure, the performance is far worse than Shanghai copper and Shanghai nickel, the current Shanghai aluminum preliminary decline to break the recently constructed oscillation pattern, showing that in the long and short competition, the short side is dominant
.
As domestic aluminum inventories continue to hit a new high, it will inhibit aluminum prices from rising further, and the Shanghai aluminum 1712 contract can be sold high and low between 16000-16250 yuan / ton, and the stop loss is 100 yuan / ton
each.