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Today's Shanghai aluminum volatility higher, the main 1802 contract closed up 1.
26% to 14450, up 180 from the previous trading day, technically, after the recent downturn, short-term aluminum prices do not rule out the need for a rebound, but inventory pressure, and raw material prices continue to fall impact, aluminum prices may rise space is limited, above the 14800 mark pressure level
.
In terms of the market, spot aluminum trading in the early stage is relatively limited, intraday futures rose spot follow-up positively, the market bullish mentality became strong, downstream near the weekend purchases increased, trading has obviously improved, more active
.
The price of South China aluminum ingots in South China was 14060-14160 yuan, with an average price of 14110 yuan, up 70
.
Market supply and demand improved, trading was more active, futures rose sharply in the second period, and the market trading price rose from 14100 yuan to 14190 yuan, which was a premium of -10~80 yuan
compared with the average price of South China Reserve.
Nanchu East China aluminum ingot quotation 14020-14060 yuan, the average price of 14040 yuan, up 70 yuan; Yangtze River: 14040-14080, 14060 up 70, aluminum prices stabilized and rebounded, market bullish sentiment increased procurement slightly positive, trading improved, spot prices followed futures fluctuated sharply at 14030-14110 yuan, higher than the average price of the Yangtze River -30~50 yuan
.
On the news front, data released by the National Bureau of Statistics on Thursday showed that China's primary aluminum production fell for the fifth straight month in November, as winter smelter curbs pushed output to its lowest level
since February 2015.
China's primary aluminum production in November was 2.
35 million tons, down 7.
8% from 2.
55 million tons in October and 16.
8%
from the same period last year, data showed.
Aluminum futures found additional support from the Chinese production data released at the same time, and the trend rose during the day
.
Today's central bank net investment, the tight capital surface has signs of eased, the commodity market is also encouraged to a certain extent, but this release of liquidity is mainly a hedging effect, and it is difficult to loosen the capital in the medium and long term has too much effect, pay attention to the performance
of Shanghai aluminum approaching 14,500 yuan.
