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Market review, on Tuesday, showed that aluminum prices weakened, short funds increased enthusiasm for entry, some of which were mainly positions
.
Shanghai aluminum volatility weakened, Shanghai aluminum 1903 contract traded at 13380-13490 yuan / ton, the end of the day closed at 13390 yuan / ton, down 0.
63%
on the day.
In the external market, as of 15:28, the 3-month Lun aluminum was reported at 1871.
0 US dollars / ton, down 0.
37% on the day, and its upper pressure level was concerned at 1850.
0 US dollars / ton
.
Spot analysis: The transaction price in Shanghai was traded between 13300-13320 yuan / ton, and the discount for the month was near
Pingshui.
The early morning transaction price was around 13320 yuan / ton, with the rapid release of the price, the actual transaction price was concentrated around 13300 yuan / ton, Wuxi transaction price concentrated 13300-13320 yuan / ton, Hangzhou transaction price concentrated between
13330-13340 yuan / ton.
The mainstream transaction price fell by nearly 40 yuan / ton
compared with the previous trading day.
The leakage of aluminum is relatively large, but a large middleman in East China received less than the previous day, the cargo holder shipments are more active, and the middlemen and traders are more active
in trading with each other.
However, downstream intraday procurement is still mainly on-demand procurement, and there is no large amount of stocking
.
Market hot attention: the Asian dollar recovered slightly, now trading around 95.
847, as the market increasingly expects the Federal Reserve to pause or suspend the interest rate hike cycle, and the weakness of the US ISM non-manufacturing industry also weighs on the dollar, overnight the dollar index further down, intraday Asian market period has recovered
.
In terms of industry, Aluminum Bahrain B.
S.
C.
It said on Sunday that the company achieved a capacity of 1.
01 million mt/year in 2018 and 981016 mt/year in 2017, exceeding its annual capacity target
of 1 million mt/year.
Shanghai aluminum volatility weakened during the day, macro benefits are difficult to cover up the weakness of its fundamentals, short-term Shanghai aluminum upward weakness
.
In the spot market, due to the decline of aluminum again, the middlemen received less than the previous day, the holders shipped more actively, and the middlemen and traders traded more actively with each other, but the downstream was still mainly purchased on demand, and there was no large amount of stocking
.
Operationally, it is recommended that the Shanghai aluminum 1903 contract can consider short order intervention around 13450 yuan / ton, and the stop loss refers to 13600 yuan / ton
.
