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On Friday, Shanghai aluminum continued to dip, trading at 13535-13675 yuan / ton during the day, and closing at 13555 yuan / ton at the end of the day, down 0.
80%
on the day.
In terms of external trading, as of 15:30 Beijing time, the 3-month Lun aluminum was reported at 1934.
5 US dollars / ton, up 0.
05% on the day, and the upper pressure level was concerned about 1950.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13500-13510 yuan / ton, the discount of 50 yuan / ton - 40 yuan / ton for the month, the transaction price of Wuxi is concentrated in 13500-13510 yuan / ton, and the transaction price of Hangzhou is concentrated between
13530-13550 yuan / ton 。 The mainstream transaction price is 60 yuan / ton lower than the previous day, the intraday market supply is relatively sufficient, the cargo holders are acceptable, but some traders think that the price difference is suitable to receive goods very positive, some even show selling sentiment, the market transaction is mainly intermediary trading, downstream intraday transaction is basically on-demand procurement, although it is close to the weekend, but there is no obvious stocking behavior
.
On the news front, the dollar index in Asia was broadly volatile and is now trading around 96.
773, as the Fed minutes barely weakened expectations for a rate hike in December, but increased market expectations for near-neutral interest rates, making the dollar index volatile
.
In terms of industry, Norwegian metal producer Norsk Hydro said it expects global primary aluminum demand growth to slow to 2%-3% in 2019, compared with 4%
growth in 2018.
Shanghai aluminum continued to decline during the day, as aluminum ore and alumina prices both loosened, and the support for aluminum prices declined
.
In the spot market, market transactions are mainly intermediary transactions, and downstream transactions are basically purchased on demand, although it is close to the weekend, but there is no obvious stocking behavior
.
On the technical side, the futures price continues to come under pressure downward and falls below the previous low, and is still in a weak situation in the short term, paying attention to the support of the 13500 yuan / ton mark below
.
Operationally, it is recommended that short orders in the early stage of the Shanghai-aluminum 1901 contract can be held against the 10-day moving average
.
