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On Tuesday, Shanghai aluminum opened at 15575 yuan / ton in the morning, a small number of bulls tried to enter at the beginning of the session, touching 15590 yuan / ton, the 5-day moving average resistance first appeared, and then the bears took the initiative to increase positions to put pressure, aluminum prices quickly leaked low touched 15425 yuan / ton, in the afternoon 15500 yuan / ton integer mark support reappeared, some bears made up for the aluminum price rebounded slightly, but the pressure of capital to sell short is still large, Shanghai aluminum weak shock closed at 15470 yuan / ton, again lost 15500 yuan
。 It is necessary to pay attention to the competition between long and short for the first line of 15,500 yuan / ton, but the downward view of aluminum prices is maintained
.
In terms of external trading, Lun aluminum opened at 2112 US dollars / ton in the morning, Lun aluminum followed the domestic market downward during the Asian session, the low once touched 2103.
5 US dollars / ton, and then the 5-day moving average support first appeared, Lun aluminum recorded a rebound, rebounded to 2113 US dollars / ton during the European trading session, but the upward momentum is obviously insufficient, aluminum prices are entangled near the daily moving average, as of 17:08, Lun aluminum is reported at 2109.
5 US dollars / ton, it is expected or will continue to try to test the 5-day moving average and 2100 US dollars / The effectiveness of
the first-line integer mark support.
In terms of the market, before the afternoon, Shanghai trading concentrated 15280-15300 yuan / ton, the discount for the month was 40-30 yuan / ton, Wuxi transaction concentrated 15280-15300 yuan / ton, Hangzhou transaction concentrated 15310-15330 yuan / ton
.
Holders of positive shipments, before the decline of aluminum futures, middlemen receive goods more actively, after the fall of aluminum futures, holders adjust prices with the market, middlemen wait and see sentiment breeds, spot prices have less fluctuations in the near future, downstream enterprises purchase on demand, and the overall transaction remains stable for the previous day
.
In the late afternoon, aluminum fell in the month, and the transaction price in East China was 15260-15280 yuan / ton
.
In terms of news, as the heating season on November 15 approached, various alumina plants began to implement production reduction plans
.
1.
Chalco Shandong began to reduce production, a total of 3 production lines, it is expected that the monthly output of alumina will be close to 35,000 tons; 2.
Henan Dongfang Hope (Sanmenxia) Aluminum Co.
, Ltd.
has completed the shutdown, stopping production by 30%; 3.
Henan Sanmenxia Yixiang Aluminum Co.
, Ltd.
began to stop production on the 15th, and stopped a production line with a production
capacity of 130,000 tons / year.
At present, the price of alumina continues to decline, and the cost support has weakened, but the current market has released the risk of cost support in the early stage, and the main focus is on the inventory performance
in the recent period after limiting production.
The possibility of inventory decline is large, but the magnitude may not be large, the market is still in a weak and stable pattern, and the hedging willingness of upstream enterprises has greater
pressure on the rebound.
