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On Tuesday, the main contract of Shanghai aluminum 1803 contract fell under pressure, the decline further expanded, for the fifth decline in the past six trading days, intraday trading at 14410-14135 yuan / ton, the end of the day closed at 14140 yuan / ton, down 1.
5% on the day, Shanghai aluminum daily closing price hit a low on July 6 last year, indicating that the upper selling pressure is heavier
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between the Shanghai aluminum 1803 contract and the 1804 contract remained at 75 yuan / ton
.
In terms of external trading, Asia Lun aluminum fell slightly under pressure, of which 3-month Lun aluminum traded at 2201-2182 US dollars / ton, now closed at 2189 US dollars / ton, down 0.
82%, for the third consecutive day of decline, showing that short-term decline risks remain, the technical support below focuses on the 60-day moving average of 2150 US dollars / ton
.
In terms of the market, on February 6, the Shanghai transaction concentration was 14060-14070 yuan / ton, the discount for the month was 130-120 yuan / ton, the Wuxi transaction concentration was 14060-14070 yuan / ton, and the Hangzhou transaction concentration was 14090-14110 yuan / ton
.
Approaching the end of the year, the holder reduced the position of the holiday, the willingness to ship positively, although close to the 9-day deadline for the month change, the spot discount is difficult to narrow, the middleman is mainly for the downstream to receive goods, downstream enterprises to prepare goods into the end, there have been enterprises began to take a holiday, the overall transaction supply exceeds demand
.
On the macro front, the Dow closed down more than 1,100 points overnight as investors worried that inflation would lead to an acceleration in the pace of Fed tightening, the largest one-day decline since the 2008 financial crisis, market risk aversion heated up, and non-ferrous metals came under pressure to weaken
.
In terms of industry, global import and export data show that in 2017, the total value of Vietnam's bauxite exports to China was 19,315.
19 million US dollars; but according to industry news reports, the total value of bauxite exports accounted for only 51.
4%
of Vietnam's total mineral exports.
The total value of Vietnam's bauxite exports to China is expected to decline to US$18,426.
3 million
in 2018.
During the day, Shanghai aluminum 1803 fell under pressure to 14140 yuan / ton
.
Recently, Shanghai aluminum fell endlessly, as domestic inventories continued to reach new highs, supply pressure increased, but after aluminum prices continued to fall, facing over-fall rebound demand, short-term short orders pay attention to take profit and exit the market, it is recommended that Shanghai aluminum 1803 contract can be sold high and low in the range of 14050-14350 yuan, and the stop loss is 100 yuan / ton
each.
