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Shanghai aluminum coincided with the Dragon Boat Festival holiday at the beginning of this week, but the Sino-US trade war escalated again, Shanghai aluminum staged a stormy market, the main 1808 contract lost support around 14500, the lowest down to 14035; From the trend point of view, long and short intertwined, short-term Shanghai aluminum temporarily maintain a range shock market, but the trade war friction has not yet ended, Shanghai aluminum fear shock unchanged, the main force temporarily pay attention to the 14,000 mark support; but with the continuous fermentation of the trade war, there is a possibility of breakdown, for the time being
, look more and move less.
In terms of external trading, Lun Aluminum has recently continued its downward trend, the Sino-US trade war has escalated, and Lun Aluminum has repeatedly fallen below the $2200 mark, with the lowest dipping to $2162; Trade disputes have not yet been clarified, the market is long and short intertwined, the trend of Lun aluminum is twisted, the short-term decline is expected to slow down, but the overall weak trend may not change, below pay attention to the 2150 mark support, it is expected that next week Lun aluminum overall fluctuation range of 2150-2250 US dollars
.
In terms of the market, with the sharp decline in aluminum prices this week adjustment, the enthusiasm of holders to ship has increased significantly, although the capital tension in the middle of the year superimposed on the slight decline in demand, but the aluminum price stopped falling and stabilized still attracted most manufacturers to take advantage of the low absorption of goods, the overall transaction remained stable, it is expected that next week with the slight recovery of aluminum prices, holders will hold up the price slightly reluctant to sell, but the overall transaction has not changed much, the fundamentals are still continuing to repair, and there is no obvious sign of decline in demand
.
Inventory, this week's domestic electrolytic aluminum social stocks, Shanghai area 433,000 tons, Wuxi area 795,000 tons, Hangzhou area 120,000 tons, Guangdong Nanhai 252,000 tons, Gongyi area 167,000 tons, Tianjin 60,000 tons, Chongqing 27,000 tons, Linyi 30,000 tons, consumption of aluminum ingot inventory total 1.
884 million tons, down 40,000 tons
from last week.
Overall, aluminum prices this week were significantly dragged down by the Sino-US trade war tensions, especially domestic aluminum prices, which basically fell near
the cost line.
Lun aluminum fell more limited this week, the beginning of the week slightly after gradually stabilized, the overall trend is basically stable, the US dollar index is strong, so that aluminum prices are slightly under pressure, but domestic inventories continue to degrade to support aluminum prices strongly, it is expected that next week Lun aluminum in the range of 2100-2300 US dollars a line of weak adjustment
.
After the domestic aluminum price in the environmental protection speculation subsided, mainly dragged down by the sharp plunge in domestic copper prices, the beginning of the week fell sharply to 14,000 yuan support, in the dollar index slightly weakened gradually to make up for the decline, the overall trend is still weak, in the inventory decline support is expected next week Shanghai aluminum in the range of 14,000-14,500 yuan weakly adjusted
.
