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On Monday, the main contract of Shanghai aluminum opened at 12620 yuan / ton in the morning, and the aluminum price fluctuated upward under the dominance of long positions before noon, touching 12665 yuan / ton at the high, at this point Shanghai aluminum suffered a small amount of short selling pressure, short-term bulls concentrated out of the market to hedge, Shanghai aluminum quickly leaked low to touch 12555 yuan / ton, and then bulls once again pushed aluminum prices upward, some short positions at the end of the session closed and fled, and finally closed at 12650 yuan / ton
.
At present, it seems that bulls still dominate, bears have insufficient momentum, Shanghai aluminum is still running above the moving averages, this week inventory or decline again, it is expected that Shanghai aluminum short-term maintenance high volatility
.
In terms of external trading, Lun aluminum opened at 1665.
5 US dollars / ton in the morning, the Asian session at the beginning of the Lun aluminum around the daily moving average narrow range, midday from a sharp rise, recorded a high of 1671 US dollars / ton in the Asian market, entered the European trading session, and returned again around the daily moving average volatility intensified, as of 17:30 running at 1663 US dollars / ton, up $3, the dollar higher crude oil weakening currently seems to have no direct impact on the trend of Lun aluminum, Lun aluminum once again stood on all moving averages, evening attention to the Shanghai aluminum trend for the guidance of Lun aluminum
。
In terms of the market, the transaction concentration in Shanghai is 13150-13160 yuan / ton, the premium for the month is 50-60 yuan / ton, the transaction concentration in Wuxi is 13140-13150 yuan / ton, and the Hangzhou transaction concentration is 13140-13170 yuan / ton
.
Holders are actively shipping at high prices, Weiqiao aluminum ingots newly registered as warehouse receipts have been circulated in Shanghai and Wuxi, Shanghai downstream demand is poor, middlemen and downstream receiving goods are cold, Wuxi middlemen and downstream enterprises are more willing to receive goods than Shanghai, the overall transaction is cooler than last Friday, and showing regional differentiation
.
In the late afternoon, aluminum fell to 13040 yuan / ton in the month after the shock rebounded, when the aluminum fell sharply, the holders were eager to exchange cash, and took the initiative to reduce the price, Shanghai traded 13130-13140 yuan / ton, Wuxi traded 13090-13100 yuan / ton
.
After the aluminum stabilized, the holder raised the price, but it was not recognized by the demand side, and it was difficult to make a deal
.
According to mainstream media estimates, the current flooding in South and East China will cause disruptions in the supply of goods for 4-5 days
.
It is expected that in the short term, the source of aluminum ingots will remain tight, the spot premium will remain high, the willingness to receive goods downstream will gradually weaken, and the production capacity is still expanding, but the logistics will not be smooth in the short term will make the market circulating sources of odd goods liveable, and it is expected that aluminum prices will remain at a high stalemate
in the short term.
