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Overnight, the Shanghai aluminum main 1908 contract opened at 13,670 yuan / ton in the morning, and soared to 13,715 yuan / ton at the open, and then slowly climbed from the high to explore, exploring the intraday high of 13,745 yuan / ton, and continued to rise at the end of the session to be hindered and hovered, and finally closed at 13,740 yuan / ton, with a volume of 39,774 lots, and the position decreased by 3,534 hands to 233,000 hands, and closed at the small white line in the evening, up 90 yuan / ton, or 0.
66%.
。 In the evening, the US index fell, most metals rose, aluminum prices were low to recover some of the lost ground, it is expected that today's operating range is between 13650-13800 yuan / ton, and the opposite plate is pasted between 20-liter 20 yuan / ton
.
The price of AOO aluminum ingots in East China was 13,650 yuan / ton, down 20 yuan
.
The continuous decline in LME aluminum inventories provides support for aluminum prices, while the pessimistic expectations of international trade relations have been digested by the market, and low aluminum prices have also attracted short cover-ups, and the probability of aluminum prices rising within the day is large, and spot aluminum prices are expected to rise
today.
Market expectations improved greatly after the G20 meeting last weekend, and the stock market strengthened on Monday, but weak PMI data still suppressed follow-up demand expectations, and aluminum prices showed weakness
.
In terms of supply and demand, the peak season of domestic consumption will pass, and the momentum of significant destocking will slow down
.
In addition, the weakening of alumina and the downward trend of cost are obvious
.
On the whole, from the perspective of the long-term cycle, the supply and demand structure of electrolytic aluminum has improved in a trend, the supply is tight during the year, and the aluminum price has shown a wide range of fluctuations and stabilization trends
that gradually rise at the bottom.
However, in the short term, the marginal weakening of the supply and demand structure, if there is no macro and other benefits, aluminum prices show a weakening pattern
.
Considering the large decline in alumina, the profit compression space of the follow-up industrial chain is limited
.
