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Trade Service
On Thursday, the main contract of Shanghai aluminum 1807 oscillated slightly, operating in the range of 14755-14925 yuan / ton, and closed at 14885 yuan / ton at the end of the day, up slightly by 0.
64%
from the previous trading day's closing price.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between Shanghai aluminum 1806 contract and 1807 contract was basically flat to 70 yuan / ton
.
In terms of external trading, Asia Lun aluminum continued the narrow fluctuation trend of nearly two weeks, weaker than other base metals and Shanghai aluminum, as of 16:00 Beijing time, 3-month LME aluminum reported 2324 US dollars / ton, up 0.
56% per day, at present, Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range focus on 2280-2350 US dollars / ton
.
In terms of the market, on May 17, Shanghai aluminum trading concentrated 14560-14580 yuan / ton, for the month discount of 10 yuan / ton to flat water, Wuxi transaction concentration 14560-14570 yuan / ton, Hangzhou transaction concentration 14580-14590 yuan / ton
.
In the morning, the carrier shipped actively, the market can circulate abundantly, the market quotation from 14580 yuan / ton all the way down to 14560 yuan / ton, and then a large aluminum enterprise received 2000 tons in the East China market at a price of 14570 yuan / ton, the market transaction is basically stable, the downstream maintains on-demand procurement, and the overall transaction in the East China market within the day is
acceptable.
Today's aluminum continues to rise, and the holders are actively shipping, but the willingness of middlemen and downstream enterprises to purchase is limited, and the market transaction is not good
.
Market News:
1.
U.
S.
sanctions against Russian aluminum producer RUSAL United, coupled with Norsk Hydro's Alunorte alumina refinery in Brazil, have pushed up international alumina prices, making China a rare export of alumina.
China is the world's
largest producer of aluminum.
2.
Due to employee strikes, the production of bauxite at the Guinea Bokai Mining Company (SMB) has completely stopped in the past ten days, and has affected about 1 million tons to 1.
2 million tons of bauxite production, with a daily loss of $
1 million.
3.
Lu Dongliang, president of Chinalco, said that the company plans to export 30,000-50,000 tons of alumina
in May.
He said the impact of the 10 percent U.
S.
tariff on aluminum imports on China's aluminum industry was "not at all" because China exports just over 500,000 tons
a year to the United States.
During the day, the Shanghai aluminum 1807 oscillation closed up to 14885 yuan / ton, initially returning to the operation above the moving average group, but due to the further expansion of China's primary aluminum production in April, it may limit the rise in aluminum prices
.
Operationally, it is recommended that the Shanghai-aluminum 1807 contract can be sold high and low between 14750-14900 yuan / ton, and the stop loss is 100 yuan / ton
each.