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On Tuesday, the price of the main 1711 contract of Shanghai aluminum fell under pressure after the opening, fell to a low of 16485 yuan and rebounded, and tested the intraday high of 16645 yuan again, and finally closed at 16610 yuan, up 510 yuan, or 3.
17%.
Index holdings increased by 37,916 lots to 976,000 lots, and trading volume shrank to 890,000 lots
.
Externally, the LME aluminum March contract opened volatile lower and fell to $2113.
5, then maintained the bottom consolidation, and the price suddenly rose sharply to a maximum of $2127.
5 in the afternoon, closing at $2125, up $3.
5, or 0.
16%.
On the macro front, analysts said that due to the implementation of environmental protection policies and the upcoming heating season, environmental protection expectations, both constitute a certain support
for prices.
With the gradual emergence of the effect of capacity reduction, inventory is also expected to gradually decrease
as demand recovers.
At present, the overall maintenance of the long idea of Shanghai aluminum, if there is a pullback, can layout long orders
.
In terms of the market, the mainstream trading hours of the spot market are active, the morning aluminum maintained a high level of volatility after a sharp rebound, a large number of cargo holders shipped, market middlemen received goods enthusiasm to maintain, buy up not buy down so that the intraday situation continued to be better than the previous day, the trading level remained active, near the delivery date, spot to futures premium back to C100-C60 yuan / ton
.
In terms of news, the inventory of aluminum ingots in seven places showed the first inventory decline in two months, electrolytic aluminum entered the traditional consumption season in September, superimposed on the increase in market shutdowns, the market expects that the inventory inflection point is coming, in addition to a number of commodities rising within the day, the market has some signs of turnaround, aluminum prices still have momentum in the short term
.
On the technical side, the main KDJ golden cross and MACD dead cross of Shanghai aluminum, the price broke through the middle rail of the BOLL line, short-term or high volatility to maintain the rally, but the support below is strong, and the overall is easy to rise and fall
.
