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Market review, Shanghai aluminum closed slightly higher on Friday, Shanghai aluminum 1905 contract traded at 13655-13730 yuan / ton, closed at 13720 yuan / ton, up 0.
26%
daily.
In the external market, as of 15:35, the 3-month Lun aluminum was reported at 1908.
00 US dollars / ton, up 0.
16%
on the day.
In terms of industry, Henan Province issued the "Henan Province 2019 National Economic and Social Development Plan", in terms of traditional industrial transformation and upgrading, further clarify that it will strive to eliminate and transform about 1.
5 million kilowatts of coal-fired power units throughout the year, and withdraw 400,000 tons
of inefficient electrolytic aluminum production capacity.
In terms of the market, aluminum futures maintained a wide range of volatility before noon of the month
.
Shanghai transaction price is between 13920-13940 yuan / ton, the monthly premium of 270-290 yuan / ton is around, the transaction price is basically the same as yesterday, Shanghai next month ticket transaction price is between 13640-13660 yuan / ton, Wuxi that month transaction price is between 13920-13940 yuan / ton, Hangzhou that month transaction price is between
13930-13950 yuan / ton.
As this day is the last spot trading day in March, some holders choose to close and settle, the market supply is significantly reduced compared with the previous days, and the trading activity between traders is further reduced
compared with the previous two days.
Downstream performance is on-demand procurement, and receiving goods is mediocre.
The overall transaction in East China is average
.
In terms of inventories, LME aluminum stocks were 1,134,950 tons on March 28, down 7,775 tons from the previous session; As of March 22, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange stood at 741,757 tons, an increase of 2,699 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum closed slightly higher during the day, as alumina prices temporarily stopped falling, forming phased support for aluminum prices on the cost side, and a new round of trade negotiations between China and the United States warmed market sentiment
.
In the spot market, because this day is the last spot trading day in March, some holders choose to close and settle, the market supply is significantly reduced compared with previous days, and the trading activity between traders is further reduced
compared with the previous two days.
The downstream performance is on-demand procurement, the receipt of goods is flat, and the overall transaction is average
.
On the technical side, the MACD indicator shows repeats, the Bollinger band channel shows contraction, and short-term aluminum prices are recommended to be volatile
.
