The long-short game intensifies Shanghai aluminum or enters a high volatile market

In terms of the external market, Lun aluminum opened at 1732 US dollars / ton in the morning, Lun aluminum slightly fell to a low of 1725 US dollars / ton, and then rose above the daily moving average, followed by Shanghai aluminum to open a narrow range, into the European trading session, the dollar fell sharply, boosting the base metal upward, Lun aluminum trading center of gravity moved up again, all the way up, touched up $1740 after falling down, fell to the daily average, tested down $1729, as of 18:00, Lun aluminum 1732 US dollars / ton, down 4 US dollars / ton, The profit window of aluminum ingot imports has opened, the moving average below is about to become a golden cross, and the technical form of aluminum is still strong, continuing to refresh the previous high expectations
.

On the macro front, the US dollar and crude oil fluctuated
.
China's Caixin manufacturing PMI in October was 51.
2, the highest since
July 2014.
The market pointed out that the final value of Caixin China's manufacturing PMI in October was the largest growth rate in two years, the manufacturing industry seems to have picked up significantly, China's economy has stabilized in the short term, mainly due to policy stability, follow-up policy support may still be necessary, otherwise industrial production is at risk
of being dragged down by investment.
Too many
messages.

In terms of industry, the construction of the new aluminum plant project of Emirates Global Aluminium Company (EGA) has been completed by 25%, and it is expected to be put into operation in 2018, and the later export volume will reach 2.
5 million tons / year; Norsk Hydro's CEO said that demand for aluminum in the automotive industry is expected to be stronger due to strict regulatory standards, and global aluminum demand in this segment is expected to grow by about 13%
from 2016 to 2023.

In terms of the market, aluminum futures fluctuated before
noon that month.
Shanghai transaction concentration is 14900-14910 yuan / ton, the premium for the month is 340-350 yuan / ton, Wuxi transaction concentration is 14870-14880 yuan / ton, Hangzhou transaction concentration is 14890-14910 yuan / ton
.
This week, Wuxi inventory increased more, holders shipped positively, Shanghai's main circulation brands are Qingtongxia and other high-end brands, the price is higher than Wuxi area, Hangzhou holders stable shipments, inventory increase middlemen cautiously chasing up, replenishment willingness is cold, Shanghai prices are higher, downstream enterprises tend to purchase aluminum from Wuxi for production, the overall transaction, Wuxi Hangzhou transaction is better than Shanghai
.
Aluminum fell back in the afternoon of the month, Shanghai spot quotation 14900-14910 yuan / ton, Wuxi trading concentrated 14870-14880 yuan / ton, aluminum narrow range turbulence, spot market continued the afternoon atmosphere
.
On the plate, the spot decline drove the high level of aluminum to fall, the upper selling pressure increased, and the later rise may slow down
.