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On Tuesday, the Shanghai aluminum 1810 contract opened at 14680 yuan / ton in the morning, and it was shorted into the long flat at the beginning of the session, and the Shanghai aluminum fell under pressure to 14660 yuan / ton, and the short position was closed and the short long boost, so that Shanghai aluminum slightly touched 14720 yuan / ton, and then the bulls took profits and left the market, and the center of gravity of Shanghai aluminum sank.
In the afternoon, Shanghai aluminum basically oscillated
up and down around the daily moving average at 14,697 yuan / ton as the center.
At the end of the day, the US dollar index fell, and in the long and short game, Shanghai aluminum first fell and then rose, touching 14670 yuan / ton and then rising back to about 14697 yuan / ton, closing at 14700 yuan / ton
.
In terms of the external market, Lun aluminum opened at 2079.
5 US dollars / ton in the morning, during the Asian trading session, Lun aluminum around the daily average wide range oscillation, around 2083 US dollars / ton, first down and then up, during the period touched 2075.
5 US dollars / ton, the low up touched 2089.
5 US dollars / ton, at the end of the Asian market, the center of gravity gradually declined
after rushing up to 2087 US dollars.
After entering the European trading session, the dollar rebounded and Lun aluminum sank at $2075 / ton, a weak shock, and the intraday low was $2068.
5
.
As of 18:10, Lun Aluminum was reported at $2068.
5 / ton, down $11.
5 / ton, or 0.
55%.
In the spot market, aluminum fluctuated in a narrow range of 14550-14570 yuan / ton before noon of the month, Shanghai spot traded 14530-14540 yuan / ton, discount 30 to 20 yuan / ton, Wuxi spot traded 14530-14540 yuan / ton, Hangzhou spot traded 14540-14550 yuan / ton, holders continued to maintain a strong sales strategy, but middlemen and downstream fear of heights were stronger, dragging down some transactions
。 The Gongyi area continued to maintain a discount of around 100 yuan / ton to 14440 yuan / ton in the East China market, and the transaction in Linyi was around 14510 yuan / ton, and the downstream feedback was mainly based on on-demand procurement, and it was difficult to see a large number of active stocking
.
In the afternoon, the trading price in East China was concentrated between
14520-14560 yuan / ton.
On the news front, the sharp fall in the Turkish lira dragged the euro to a 13-month low on Monday as investors worried about the spread of the crisis rushed to buy yen and Swiss franc to a safe haven, and weighed on emerging market currencies
.
Oil prices fell on Monday after data showed rising inventories in Cushing, the delivery ground for U.
S.
crude futures in the latest week, and fears of troubled emerging markets and escalating trade tensions hit the fuel demand outlook
.
Gold fell below $1,200 an ounce on Monday, its lowest
since late January 2017.
In metals, most industrial metals fell
, following the lower trend of Chinese and European stock markets, as well as emerging market currencies including the yuan.
The LME three-month aluminum CMAL3 closed down 1.
1 percent at $
2,082 a tonne.
Overall, the international situation is tense, global risk aversion is heating up, market downstream demand is light, Shanghai aluminum has risen slightly, and the trend of volatility will remain unchanged
in the short term.
