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On Friday, aluminum prices retreated, and bulls showed a significant reduction in positions
.
Shanghai aluminum rebound was blocked, trading at 13775-13885 yuan / ton during the day, and closing at 13775 yuan / ton at the end of the day, down 0.
04%
on the day.
In the external market, as of 15:28 Beijing time, the 3-month Lun aluminum was reported at 1946 US dollars / ton, down 0.
13% on the day, and the lower support level focused on 1930.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13810-13830 yuan / ton, the discount of the month is 40 yuan / ton - discount of 30 yuan / ton, the transaction price of Wuxi is concentrated 13810-13830 yuan / ton, and the transaction price of Hangzhou is concentrated between
13840-13860 yuan / ton 。 Due to the consideration of fund settlement near the end of the month, superimposed on the recovery of aluminum prices, the overall shipment of the holder in the day is very positive, because the contract price difference between the current month and the next month is narrow, the middleman arbitrage space is not large, and the receiving is not active, and the downstream because the aluminum price is slightly more urgent than the previous two days, the willingness to prepare goods is not obvious, the overall transaction in East China is average, slightly better
than the previous day.
On the news front, the Asian dollar index was weak, now trading around 96.
434, as the dollar index performed weakly
due to the recent continued dovish comments from Fed officials, which made the Fed raise interest rates doubtful.
In terms of industry, the World Bureau of Metal Statistics (WBMS) released a report showing that Nalco announced plans to expand the annual capacity of its Brownfield and Greenfield smelters by 500,000 tons and 600,000 tons
respectively in the next few years.
The intraday Shanghai aluminum rebound was blocked, mainly dragged down by the decline in the stock market and crude oil; In the spot market, the overall shipment of holders is very positive, but because the price of aluminum has risen compared with the previous two days, the downstream receiving is not active, the willingness to stock is low, and the overall transaction is average
.
On the technical side, the short selling pressure above the futures price is still large, but the lower part is also supported by the moving average, and the future market pays attention to the pressure of
the 20-day moving average on the futures price.
Operationally, it is recommended that the Shanghai-aluminum 1901 contract can consider choosing an opportunity near 13750 yuan / ton, and the stop loss refers to 13650 yuan / ton
.
