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On Wednesday, the Shanghai aluminum 1705 contract opened at 13865 yuan / ton, under the long and short game before the afternoon, the aluminum price fluctuated in a wide range of 13850-13960 yuan / ton, and the aluminum in the late afternoon at the high of 13960 yuan / ton of the 10-day moving average encountered a sharp increase in short positions, and the aluminum price leaked down to 13815 yuan / ton, bulls tried to block the decline of aluminum in this position, and the aluminum price finally fell slightly to close at 13805 yuan / ton
after a slight shock 。 Lack of policy news, bulls are difficult to do, the resistance above the 10-day moving average is greater, and the spot market smelters control shipments, downstream bargain entry into the market, long and short wait for the two sessions policy, it is expected to test the support of the 40-day moving average in the short term
.
In terms of external trading, Lun aluminum opened at 1882 US dollars / ton in the morning, affected by Shanghai aluminum, the Asian market before the afternoon London aluminum around the daily average wide range oscillation, afternoon Lun aluminum with Shanghai aluminum fell sharply, the low touched 1876.
5 US dollars / ton, into the European session, Lun aluminum continued the Asian market decline inertia to test 1874 yuan / ton, and then hit the low back to the daily moving average, as of 16:50, Lun aluminum recorded 1881.
5 US dollars / ton
.
Paying attention to the US ADP employment data for February, the 5/10-day moving average above Lun aluminum tends to stick to form a resistance level, and it is difficult for Lun aluminum to break
upward.
In terms of the market, the aluminum period was repeated rapidly in the month, and the overall upward
in the shock.
Shanghai transaction concentration is 13550-13580 yuan / ton, the discount for the month is 170-140 yuan / ton, Wuxi transaction concentration is 13550-13570 yuan / ton, Hangzhou transaction concentration is 13550-13590 yuan / ton
。 Smelters continue to adopt a controlling shipment attitude, holders sell at a high price, aluminum after 11 o'clock is at a high level, holders sharply raise the quotation, the quotation is as high as 13590 yuan / ton, showing a strong sentiment of selling, middlemen looking for low-price sources of goods actively, holders after raising the quotation, showing a tug-of-war, downstream enterprises take advantage of this low price to replenish inventory, the overall transaction maintained yesterday's activity
.
In the late afternoon, the aluminum suddenly changed in the month, and the straight line fell to 13600 yuan / ton, and the transaction price fell to 13500-13510 yuan / ton
.
In terms of industry, Malaysia's environment minister said that Malaysia may extend the bauxite mining ban for another three months or more due to environmental protection concerns, as bauxite stocks still flow out near the port and pollute coastal waters; Yulian Group officially excavated the foundation of the high-precision aluminum No.
2 cutting unit equipment, marking that the construction of the project has entered a substantive stage, and it is planned to be trial-produced
in December at the end of the year.
From the current cost of electrolytic aluminum enterprises, the loss of production capacity is close to 30%, due to the high price of alumina and coal, electrolytic aluminum production in high-cost areas has once again fallen into a loss, spot sales are obvious, and the discount has narrowed slightly
.
In addition, the market still has strong expectations for electrolytic aluminum production, and the gradual arrival of the consumption season may drive downstream demand to improve, and aluminum prices have been supported
.
On the plate, Shanghai aluminum stopped falling and stabilized, and there was little room for continued downward movement, or continued to fluctuate and finish, with a main range of 1.
35-14,000
.
