Aluminum prices continue to consolidate the market, guard against high callback risk

2017-8-28 Browse: 2070 Author: Taixing

On Friday morning, Shanghai aluminum 1711 contract opened at 16630 yuan / ton. At the beginning of the plate, bulls actively entered the market, pushing up the aluminum price slightly, reaching 16695 yuan / ton. The fund paid more attention to the first-line resistance of 16700 yuan / ton. Therefore, the high-level air entry multi level aluminum price dropped to 16565 yuan / ton, but the short position did not catch up with the short position. The low position of Shanghai aluminum rose slowly, and the bull came back in the afternoon, which pushed up the aluminum price to 16750 yuan / ton Shanghai aluminum returned some of its gains to close at 16705 yuan / ton. In terms of external market, lunlu aluminum opened at 2104 US dollars / ton in the morning. At the beginning of the market, it reached a high of 2112 US dollars / ton following the Shanghai aluminum companys upward trend, and then rapidly dropped to US $2092 / T. the 5-day moving average support showed again, the low level of lunlv aluminum rose slowly, and reached 2112 U.S. dollars / t again in the afternoon, but failed to continue to go up. In the end of the Asian plate, lunlv aluminum continued to fluctuate and fall back into the European trading period As of 17:03, lunlu aluminum reported 2105 US dollars / ton, LME aluminum inventory increased for several days, and inventory inflection point has been established. It is expected that the overall trend of lunlu aluminum is weaker than that of Shanghai aluminum, or will fluctuate between 2070 and 2130 US dollars / ton. In terms of the market, the period aluminum month before noon wide shock. Shanghai concentrated 16190-16210 yuan / ton, discount 230-210 yuan / ton for the month, 16180-16200 yuan / ton in Wuxi and 16190-16210 yuan / ton in Hangzhou. Shanghais shippers were normal, Wuxis shippers were more active, and the middlemen were still cautious. Downstream enterprises were just in need of goods preparation at the weekend and picked up slightly. The overall transaction was slightly better than yesterday, but the overall transaction was still present Oversupply pattern. In the afternoon, aluminum rose again in the same month, with a turnover of 16290-16300 yuan / ton in East China. In recent years, domestic aluminum prices have continued to consolidate at a high level. As the aluminum price has accumulated a huge increase, the market is wary of the risk of high-level callback. Therefore, most aluminum manufacturers still focus on the digestion of inventory and profit-making shipment, resulting in the continuous increase of existing aluminum inventory, but the industry is still bullish on the future aluminum market. It is expected that the aluminum price will continue to fluctuate at a high level next week. Under the background of more market atmosphere, aluminum price will still be easy to rise but difficult to fall.

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