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On Monday, the main contract of Shanghai aluminum opened at 14680 yuan / ton in the morning, the intraday aluminum price trend was light, the low touched 14625 yuan / ton, the center of gravity moved slightly down, closing at 14635 yuan / ton, Shanghai aluminum index position decreased by 12636 hands to 720754 lots, recording a new low since August 2017.
The trading volume decreased by 74,824 lots to 262,000 lots, recording a new low since July 2017, the funds continued to leave the market, from the plate can clearly feel the current aluminum market light, on the one hand, the theme is light, the external environment such as Rusal, Hydro and other related events have not made new progress, on the other hand, the fundamentals themselves are light, the current supply and demand are relatively balanced, there is no change beyond expectations, so aluminum prices are mainly consolidated, and short-term Shanghai aluminum is expected to maintain a volatile market
.
In terms of external trading, the main contract of Shanghai aluminum opened at 2280 US dollars / ton in the morning, and the low level touched 2264 US dollars / ton at the beginning of the session, and then the center of gravity continued to move up, touching 2294 US dollars / ton, but the rebound momentum was obviously limited, and it entered the downward rhythm again, as of 17:19, Lun aluminum reported 2267 US dollars / ton, short-term data is light, overseas fundamentals are marginally loose, and Lun aluminum is expected to maintain a weak shock market
.
Spot market, because the first trading session is still low, after 10:30 the market rose slightly from 14510 yuan to 14540 yuan / ton line, spot prices also showed a rise all the way, before the afternoon Shanghai transaction concentrated 14460 ~ 14510 yuan / ton, the month discount 30 ~ 20 yuan / ton, Wuxi transaction concentration 14460 ~ 14510 yuan / ton, Hangzhou transaction concentration 14480 ~ 14530 yuan / ton
.
In the morning, there are large aluminum companies receiving goods in the market, the market trading is acceptable, and a small amount of market transactions in the afternoon are concentrated in 14500~14510 yuan / ton, and the overall transaction in the East China market is acceptable
.
In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 864609 tons, an increase of 383 tons
over the previous trading day.
As of May 14, LME aluminum ingot stocks were 1,259,300 tons, down 4,950 tons
from the previous trading day.
Industry Information:
The China Association of Automobile Manufacturers released the April China automobile production and sales report, showing that in the past April, China's automobile production and sales completed 2.
3974 million and 2.
3186 million units, respectively, an increase of 12.
27% and 11.
47% compared with the same period last year, and the recovery was obvious
.
However, compared with March, production and sales volume both declined, falling by 8.
79% and 12.
71% respectively
.
RUSAL recently said that any previous expectations or outlook cannot be used as an accurate reference for the market, the long-term impact of sanctions is still difficult to determine, their impact on the company's business is quite serious, and the company's primary focus is still to maintain its operations
.
RUSAL reported adjusted EBITDA of $572 million
in the first quarter.
On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and the price of alumina has risen, increasing the cost of
electrolytic aluminum.
Technically, the daily K-line oscillates between the 20-day moving average and the 10-day moving average, and the KDJ indicator J line turns downward, and it is expected that the main force of Shanghai aluminum 1807 oscillation operation, the operating range is 14400-14900, for reference
only.
