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This week's Shanghai aluminum index staged a short market at the beginning of the week, the price rushed to 16445 yuan after three consecutive long white candles, but after that the Shanghai aluminum index rushed back down, the price fluctuated in a wide range at a high level, fell to 15960 yuan on Thursday slightly pulled up, Friday is still at a high level, the week closed at 16100 yuan, up 1355 yuan, or 9.
19%.
Holdings increased sharply by 230,000 lots to 927,000 lots this week, and trading volume also expanded by 4.
032 million lots to 6.
182 million lots
.
In terms of external trading, the LME aluminum 3-month contract broke through with two large white candles at the beginning of the week, the price rushed above $2,000, and the price fluctuated in a narrow range at a high level in the following days, rising to $2046.
5 during the week, and the price adjusted slightly on Friday, and closed at $2,031 as of the Asian market close, up $123, or 6.
45%.
In terms of the market, the main trading range of spot aluminum in Shanghai Nonferrous Metals Trading Center (SME) this week was 14710-15870 yuan / ton, and the price rose by more than 1000 yuan / ton during the week, and the premium remained at c240-c130 yuan / ton
.
At the beginning of this week, the rapid rise in aluminum prices led to a weak spot aluminum rise, and the spot discount expanded to the maximum C240 yuan / ton level
.
This week's aluminum spot affected by the sharp rise in aluminum prices, the overall trading is general, the market is abundant, traders are mostly at a high price adjustment shipment, but it is difficult to attract downstream stocking, middlemen and downstream procurement are cautious, and the transaction is relatively light
.
On Friday, the purchasing attitude of current aluminum users near the weekend is still low, the wait-and-see mentality is strong, the transaction performance is light, and the transaction is mainly based on the transfer of goods between traders
.
In terms of news, the impact of the shutdown of illegal electrolytic aluminum production capacity in Shandong Province during the week continued to ferment, and the news of supply-side reform in the future may be frequent, stimulating the aluminum market at the beginning of the week to stage a short market, standing at the 16,000 yuan mark in one fell swoop, but then due to a slight adjustment in technical demand, there was news on Friday morning that the rebar margin will be raised in the previous period, reducing market risks, and the base metal market was dragged down almost all of the green, but Shanghai aluminum showed good resistance to falls, although the intraday volatility was large, but still basically stable around 16,000 yuan
。 Bulls remain confident
about the future.
Technically, KDJ, MACD is still golden, the price continues to be in the long market, while the last two days of adjustment have stepped back to the 5-day moving average, the range is not deep, the price below the support is strong, short-term or after consolidation will still maintain an upward trend
.
