Shanghai aluminum adjusted after rebound
The failure of London Aluminum to expand its rebound last Friday caused Shanghai Aluminum to open lower on Monday. The main December contract ended at 19,450 yuan, down by 240 yuan. The transaction contracted slightly from 2436 to 56,720 positions, and the position increased 442 lots. 70710 hand.
Over the weekend, due to the sharp decline in London copper prices, aluminum prices did not continue its strong rebound on Thursday night, closing flat, while the electronic disk fell further on Monday, thus driving Shanghai aluminum to open lower, despite The short-term contract's role in the short-settlement decline was smaller, but the forward contract was still being sold by the manufacturer, resulting in a slight increase in the main December contract position. Last week, Shanghai Stock Exchange's aluminum inventories decreased by an overall 2391 to 23,371 tons, while registered warehouse receipts increased by 2,748 tons, an increase of more than half, indicating that aluminum producers still hope to deliver part of the spot. At present, the technical charts of Shanghai Aluminum and London Aluminum have slightly improved. Shanghai Aluminum's price has already reached the average system, while London's aluminum price also fluctuates near the medium-term moving average. However, aluminum prices still lack active volatility, mainly due to copper prices. The impact of the trend.
Judging from the trend of copper prices, copper prices will be adjusted downward this week, so the rebound of aluminum prices also needs to be adjusted. Therefore, investors should take a wait-and-see approach.
Gardening Tools,Scissors Pruner,Gardening Pruners Tools,Shears Branch Trimming Cutting Pruner
ChongQing Troya Hardware Manufacture Co., Ltd , https://www.troyahardware.com