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On Monday, the main 1711 contract of Shanghai aluminum once rushed straight up to 16,680 yuan after the opening, and then the price fell back to the final low of 16,335 yuan under pressure, and rebounded slightly before closing, and finally closed at 16,420 yuan, down 185 yuan, or 1.
11%.
Index holdings increased by 11,596 lots to 1.
031 million lots, and trading volume shrank to 1.
222 million lots
.
Externally, the LME aluminum March contract opened higher than $2,174, followed by pressure and volatility down to $2,136, and closed at $2,140 at the close of the Asian market, down $20, or 0.
93%.
In terms of the market, the trading level of the mainstream trading period of the spot market is general, after the aluminum price continues to fall, the holders began to sell, the spot aluminum premium fell to C220-C180 yuan / ton, the market and quotation sources are still abundant, traders and downstream bargaining normal procurement, trading is general
.
In terms of news, the central bank announced the recovery of liquidity, the tight capital situation continued, the market capital performance was more cautious, and in terms of spot, the downstream procurement capacity was limited and received less, resulting in the intraday aluminum market weaker than other metal varieties
.
At present, the market lacks a realistic boost, and short-term Shanghai aluminum is expected to fall into a high volatile market, but whether it is the policy side supply-side reform and heating season production restrictions, or the gradual increase in the cost of electrolytic aluminum have supported aluminum prices, there are still opportunities
to rise in the later period.
On the technical side, Shanghai aluminum main KDJ dead cross, MACD dead cross, the price rushed high and fell again below the 20-day moving average, the short-term aluminum market trend is weak, below or there is still room for decline, strong support around 16,000 yuan, the overall easy to rise and fall
.
