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LME aluminum was hindered on Wednesday, as of 15:01 Beijing time, 3-month Lun aluminum was reported at 1805.
5 US dollars / ton, up 0.
11%
on a daily basis.
Shanghai aluminum main 1909 contract shock adjustment, the highest intraday 13935 yuan / ton, the lowest 13880 yuan / ton, the closing price of 13895 yuan / ton, down 0.
25% from the previous trading day's closing price; The trading volume was 821.
98 million lots, a daily decrease of 31854 lots; The position was 238,000 lots, a daily decrease of 1,078 lots
.
The basis was expanded to 15 yuan/ton; The price difference between Shanghai and aluminum from 1909 to 1910 remained at 15 yuan / ton
.
Market focus: China's official manufacturing PMI for July 49.
7, 49.
6 expected, 49.
4
prior.
China's official non-manufacturing PMI for July was 53.
7 vs 54 expected and 54.
2
prior.
China's official composite PMI for July was 53.
1 vs 53
previously.
In the first half of 2019, China's aluminum alloy wheel exports amounted to US$2.
005 billion, a year-on-year decrease of 12.
7%, and the export quantity was 44.
11 million (calculated by 10kg/only), a year-on-year decrease of 6.
5%.
Spot analysis, on July 31, spot A00 aluminum quotation 13890-13930 yuan / ton, the average price of 13910 yuan / ton, up 10 yuan / ton
from the previous trading day.
Although the price rose slightly, the holders did not further actively ship, on the contrary, some middlemen, the expectation of the future market is good, intraday receipt is more active, so that the market transaction price performance is firm, but at the same time, there are also some middlemen, believe that there are uncertainties during the Sino-US trade negotiations, so there is no big entry and exit
.
Downstream is still
dominated by on-demand procurement.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 146462 tons on Wednesday, a daily decrease of 672 tons; On July 30, LME aluminum stocks were 1023875 tons, an increase of 7,075 tons
per day.
Main positions: the top 20 long positions of the main 1909 contract of Shanghai aluminum are 80040 lots, an increase of 8 lots per day, a short position of 87817 lots, a daily increase of 1018 lots, a net short position of 7777 lots, a daily increase of 1010 lots, an increase of long and short, and an increase in net short
.
Intraday Shanghai aluminum main force 1909 contract shock adjustment
.
The Politburo meeting of the CPC Central Committee pointed out that real estate is not used as a short-term means of stimulating the economy, superimposed on the high operation of the US dollar, which has put some pressure on aluminum prices, but China's manufacturing PMI data in July has rebounded, and Sino-US trade negotiations have been launched, superimposed on the continuation of aluminum inventory, which has supported aluminum prices
.
In terms of spot, although the price has risen slightly, the holders have not further actively shipped, on the contrary, some middlemen, the expectation of the future market is good, the receipt of goods is more active, so that the market transaction price performance is firm, the downstream is still based on on-demand procurement
.
Technically, the main 1909 contract MA5 of Shanghai aluminum crossed MA10 on the daily line, and short-term volatility is expected to be strong
.
