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On Tuesday, the main contract of Shanghai aluminum 1805 contract around 14,000 yuan oscillation sorting, intraday trading at 14050-13930 yuan / ton, the end of the close at 13990 yuan / ton, for the fifth consecutive day into a low oscillation, up to now Shanghai aluminum has fallen for two and a half months, more than 10% from the end of December last year, the performance is far weaker than other base metals
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between Shanghai aluminum 1804 contract and 1805 contract narrowed to 90 yuan / ton
.
In terms of external trading, Asian aluminum oscillation continued to fall, showing that the upper rebound was blocked, of which 3 months Lun aluminum traded at 2092-2079 US dollars / ton, now closed at 2079 US dollars / ton, down 0.
38% per day, the current Lun aluminum fell into a low oscillation finishing, the lower support focus on 2050 US dollars / ton
.
In terms of the market, on March 20, the transaction concentration in Shanghai was 13780-13800 yuan / ton, the discount for the month was 120-110 yuan / ton, the transaction concentration in Wuxi was 13780-13800 yuan / ton, and the transaction concentration in Hangzhou was 13790-13800 yuan / ton
.
Spot prices rise, holders have a positive attitude towards shipments, discount water to maintain stability, middlemen have no room for operation, spot prices rise, downstream enterprises wait and see sentiment breeds, only according to just demand procurement, the overall transaction supply exceeds demand
.
In terms of stocks, as of March 19, LME aluminum ingot stocks were 1,293,900 tons, down 12,250 tons
from the previous trading day.
The inventory of aluminum warehouse receipts in the previous period was 806529 tons, an increase of 175 tons
from the previous trading day.
Norwegian alumina maker NorskHydro said Brazilian authorities had discovered additional leaks at its Alunorte alumina refinery
.
Last month, Brazil asked Hydro to suspend production at the plant after heavy rainfall caused a leak prompting the company to issue force
majeure.
Hydro said authorities found in an investigation that untreated stormwater drainage sites
had been found on the roof of a coal mine storage warehouse.
During the day, Shanghai aluminum 1805 oscillation sorted out to 13990 yuan / ton, has not returned to the Wansi mark, as domestic inventories continue to hit new highs, supply pressure increases, aluminum price rebound height is limited
.
However, after the price of aluminum continues to fall, it is necessary to be vigilant against the demand for technical rebound, especially Shanghai aluminum near the 14,000 yuan / ton mark, the trend has been repeated
.
It is recommended that the Shanghai aluminum 1805 contract can sell high and low in the range of 13900-14100 yuan / ton, and the stop loss is 80 yuan / ton
each.
