Shanghai aluminum narrow range oscillation pay attention to external and fundamental related dynamics

In terms of external trading, Lun Aluminum opened high at 2033 US dollars / ton in the morning, and the Asian trading session basically fluctuated in a narrow range around 2033 US dollars / ton, and the highest recorded 2038 US dollars / ton
.
After entering the European trading session, London aluminum fell slightly below $2030/mt, and after 4pm, the LME inventory report showed that aluminum stocks increased by 70,775 tons, up nearly 7% from the previous day, the largest
increase in non-ferrous metal inventories 。 As soon as the data was released, a long black candle of Lun aluminum jumped to the 2014 US dollars / ton line, and then climbed from the low level, and returned to 2028 US dollars / ton, as of 17:40, Lun aluminum weakened slightly softly, reported at 2021 US dollars / ton, is expected to continue to test the 5-day moving average, continue to pay attention to the US dollar index and October NAHB house price index and other macro data
.

In the spot market, aluminum futures were exchanged from 1810 contracts to 1811 contracts
in the same month.
The period aluminum oscillated strongly
before noon of the month.
Shanghai transaction concentration is 14170~14180 yuan / ton, the discount for the month is 60~50 yuan / ton, Wuxi transaction concentration is 14170~14180 yuan / ton, Hangzhou transaction concentration is 14190~14200 yuan / ton
.
The market circulation source is slightly less than the previous day, especially after the slight rise in the price of aluminum in the late trading period, the market quotations are reduced, and the middlemen with the period of aluminum upward, the inquiry is active, downstream enterprises purchase on demand, but in October the demand of downstream enterprises has begun to weaken
.
In the afternoon, East China spot traded 14190~14200 yuan / ton
.

Industry News:

1.
From doors and windows to automobiles to aluminum alloy furniture, there is no lack of aluminum around people, and the application of aluminum has gradually entered people's lives
.
With the rapid growth of aluminum production in the world in recent years, the price of aluminum has declined
to a certain extent.

2.
Manufacturers extract alumina from bauxite, which is the main raw material used in the production of electrolytic aluminum, and the aluminum applications produced involve aerospace, transportation, packaging, construction, electric power, machinery, chemicals, electronic equipment and many other industries
.

After touching the 10,000 mark in the shock of Shanghai, the performance bottomed out and rebounded, in the case of base metals almost all of the green, Shanghai aluminum changed its passive posture and did not follow the fall, with the help of the early short head separation field, Shanghai aluminum took advantage of the trend to recover part of the decline, but still located below the 60-day line, is expected to continue to test the 5-day moving average, pay attention to the external market and fundamental related dynamics
.