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On Tuesday, the main contract of Shanghai aluminum 1711 fluctuated in a narrow range around 16500 yuan / ton, trading at 16620-16410 yuan / ton during the day, and rose slightly by 0.
24% to 16510 yuan / ton at the end of the day, because Shanghai aluminum fell under pressure on Thursday and Friday, so the current aluminum price has retraced about 4.
3%
from last week's high of 17250 yuan / ton.
At the same time, the positive price difference between Shanghai-aluminum 1711 and 1712 contracts widened to 115 yuan / ton, maintaining a positive arrangement
of near, low, far high.
In terms of external trading, Asian Lun aluminum rushed back down, showing a weak rebound, of which 3-month Lun aluminum traded at 2159-2143 yuan / ton, down 0.
19% from yesterday to 2147 US dollars / ton, from last week's high of 2199 US dollars / ton pullback 2.
36%, the performance is only slightly resistant to the decline of London nickel and worse than other base metals, indicating that the high pullback pressure of aluminum prices is greater
.
On the macro front, the dollar index extended its rebound overnight, rising 0.
52%, and the Asian dollar index was weak and now trading around 92.
8, while the main U.
S.
crude oil contract rose 2.
9%, partially improving commodity market sentiment
.
Watch for U.
S.
new home sales data for August
.
In addition, White House press secretary Sanders said specific details of the tax reform plan have been finalized and Trump will discuss
them on Wednesday.
In terms of the market, customs data show that China's bauxite imports in August were 6529391 tons, and the cumulative import from January to August was 44.
63 million tons, an increase of 34.
39% year-on-year, of which the import of bauxite from Guinea was 17.
675 million tons, up 175.
57%
year-on-year.
In terms of market, on September 26, Shanghai aluminum trading concentrated 16220-16240 yuan / ton, the monthly discount 190-180 yuan / ton, Wuxi transaction concentration 16220-16240 yuan / ton, Hangzhou transaction concentration 16220-16240 yuan / ton, although due to price and environmental factors, downstream enterprises stocking efforts decreased year-on-year, but downstream enterprises eventually have to stock up on the National Day, intraday downstream enterprises began to concentrate on stocking
.
Downstream demand increased, the aluminum shock was strong, the holders shipped at a high price, the spot discount narrowed, traders mainly received goods for downstream enterprises, and the overall transaction was slightly better
than the previous day.
During the day, the Shanghai aluminum 1711 contract oscillated to 16510 yuan / ton, which was significantly stagflant compared with Shanghai lead and Shanghai zinc, dragged
down by the decline of ferrous metals from the high.
It is recommended that the oscillation of the Shanghai aluminum operation idea turn to the short, and the 1711 contract can be backed by 16800 yuan below the high sky, and the entry reference is around 16600 yuan, and the target is 16200 yuan / ton
.
