Global stock markets plunged again, and Shanghai aluminum continued to fluctuate lower

In the domestic morning spot market, due to the price falling again, there are not many receivers, traders are mostly wait-and-see, and downstream on-demand procurement
.
The mainstream trading price in Shanghai is around 12720 yuan / ton, which is about 30 percent lower than the futures
.
The mainstream transaction price in Guangdong is around 12700 yuan / ton
.
Domestic primary aluminum market consumption is improving, but rising inventory pressure is greater
.
At present, market sentiment is greatly affected by external interference, and the market is in panic as the epidemic spreads outside China and crude oil prices innovate
.
Current market sentiment dominates price movements
.

Industry News:

1.
China National Railway Group decided to implement a phased halving policy
for some railway freight miscellaneous charges from March 6 to June 30.
According to Antaike's understanding, the Urumqi Railway Bureau recently lowered the railway fees for aluminum products of some transportation lines, and aluminum products cover aluminum ingots, aluminum rods, aluminum plates, aluminum strips, aluminum profiles, and aluminum wire rods; Railway expenses include freight, loading and unloading fees, operating miscellaneous expenses, etc
.
Among them, some transportation lines starting from Zhundong Railway Station will have loading and unloading fees reduced by 50% at the departure station, 30% lower loading and unloading fees at the station, 100% lower other miscellaneous operating fees, and the freight price difference coefficient varies from line to line, up to 15%.

For the aluminum industry, the long-distance transportation of alumina and aluminum ingots is mainly railway transportation; Domestic aluminum transportation is basically based on road transportation
.

2.
On March 9, 2020, the Argentine Ministry of Production and Development issued Resolution No.
88 of 2020 in the Official Gazette of Argentina, making an anti-dumping affirmative final ruling on aluminum foil originating in China and imposing an anti-dumping duty
of 28% FOB on the product involved.
The products involved in the case were laminated aluminum foil with a thickness greater than or equal to 0.
006 mm, less than or equal to 0.
2 mm, and a width of less than or equal to 1300 mm, excluding glossy aluminum foil
with aluminum content greater than or equal to 99.
2% (weight), thickness less than or equal to 6 microns, and width less than or equal to 500 mm.
The customs code of the product involved is 7607.
11.
90
.
The resolution enters into force from the date of issuance and is valid for five years
.

Shanghai aluminum fell back below 10,000 yesterday, and major overseas assets fell sharply overnight, and Lun aluminum fell slightly to around
1660.
Aluminum prices are relatively limited space, the lower has touched the industry cost line, the downward elasticity is small, although there is an expectation of consumption improvement in the long term, but high inventories and production release suppress the rebound height, it is expected that short-term prices are still dominated by weak shocks, speculators remain on the sidelines
.