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On Friday, the Shanghai aluminum main 1901 contract opened at 13645 yuan / ton, the opening recorded a doji, but in the morning released the official November manufacturing PMI index, the release of figures close to the boom and bust line, the market trading atmosphere is empty, the opening bears began to enter with positions, increased positions by more than 4,000 hands in half an hour, fell to 13,590 yuan / ton, and then hovered slightly again at 13,560 yuan / ton, the second trading stage of Shanghai aluminum in 13585 yuan / ton a narrow range of shocks to test the flow of funds, During the period, it briefly touched 13605 yuan / ton but it was difficult to beat the bearish trend, and then because of the hovering for a long time there was no obvious sign of low return, in the afternoon, Shanghai aluminum continued to slowly go down, all the way down to 13535 yuan / ton intraday low, again refreshing the previous day's low price, the end of the day slightly upward trend, but not obvious, the end of the day closed at 13535 yuan / ton, down 110 yuan / ton, down 0.
8%, so far Shanghai aluminum recorded four consecutive negative, falling below the 5-day moving average, should the fundamental weak pattern has not changed for the time being, it is expected to be difficult to recover significantly, Continue to pay attention to the long and short game and the progress of the G20 summit news at the end of the month
.
In terms of the external market, Lun aluminum opened low at 1933 US dollars / ton, slightly lower at the beginning of the day to touch the lowest price of 1930 US dollars / ton, and then basically around 1935 US dollars / ton a narrow range of shock, the two upward because of the lack of strong driving force only stopped at 1937.
5 US dollars / ton, and the downward test is also difficult to fall below the support level, closing at 1932 US dollars / ton, the trend of the whole day is tangled, the high and low price difference does not exceed 10 US dollars / ton, fluctuating above and below
the daily average 。 As the loose pattern of the fundamentals of London aluminum has not changed, and the US dollar index has returned to a low level on Friday, it is expected that London aluminum will remain weak and volatile, and it is difficult to break through above, continue to pay attention to macro data
such as the US dollar index, Canada's September GDP and third quarter GDP and the US Chicago purchasing managers' index for November.
In terms of the market, aluminum futures fell at the beginning of the month, fell and stabilized in the first trading stage, and sank slightly after the opening of the second trading stage, maintaining volatility
.
The transaction price in Shanghai is concentrated at 13500~13510 yuan / ton, the discount for the month is 50 yuan / ton ~ 40 yuan / ton, the transaction price in Wuxi is concentrated in 13500~13510 yuan / ton, and the transaction price in Hangzhou is concentrated between
13530 ~ 13550 yuan / ton.
The mainstream transaction price within the day was 60 yuan / ton lower than the previous day, the market supply is relatively sufficient, the cargo holders are acceptable, but some traders think that the price difference is suitable for receiving goods is very positive, some even show selling sentiment, the market transaction is mainly intermediary trading, downstream transactions are basically on-demand procurement, although it is close to the weekend, but there is no obvious stocking behavior
.
Shanghai aluminum main force 1901 contract fell slightly during the day, the end of the market closed at 13550, short-term maintenance of weak shock, the current spot demand gradually started, futures prices gradually stabilized and rebounded, operationally, below 13700-13500 are support, it is recommended that activists buy lightly, and the stable break through 14300 and then follow
.
