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LME aluminum rose slightly on Tuesday, as of 15:02 Beijing time, 3-month Lun aluminum was reported at $1807 / ton, up 0.
14%
per day.
The main 1908 contract of Shanghai aluminum opened high and low, with the highest 13805 yuan / ton and the lowest 13720 yuan / ton during the day, and the closing price was 13745 yuan / ton, down 0.
18% from the closing price of the previous trading day; The trading volume was 81922 lots, an increase of 544 lots per day; The position was 208,900 lots, an increase of 3,188 lots
per day.
The basis was reduced to -35 yuan/ton; The price difference between Shanghai aluminum in 1908-1909 narrowed to -25 yuan / ton
.
Market focus, at 22:10 Beijing time on Tuesday, St.
Louis Fed President Bullard will speak, as one of the most dovish members of the Fed, Brad's speech has attracted much attention
.
According to preliminary data released by the China Passenger Vehicle Association, retail sales of passenger cars in China in the broad sense of the country increased by 4.
9% year-on-year to 1.
8 million units in June, showing a warm-up
for the first time after 13 months.
Spot analysis, on July 9, spot A00 aluminum quotation 13690-13730 yuan / ton, the average price of 13710 yuan / ton, down 60 yuan / ton
from the previous trading day.
Due to the price falling for two consecutive days, the willingness of middlemen to replenish goods at low prices increased, and the holders slightly raised prices, so the actual transaction between traders was slightly
deadlocked.
Downstream manufacturers purchased as usual, and the performance of on-demand receiving was flat, which was not better than the previous day
.
Warehouse receipt inventory, Shanghai aluminum warehouse receipts on Tuesday totaled 155536 tons, a daily decrease of 1120 tons, down 16 consecutive days; On July 8, LME aluminum stocks were 956575 tons, a daily decrease of 7,825 tons, a decline of 42 consecutive days
.
The main 1908 contract of Shanghai aluminum opened high and went low during the day
.
The US non-farm payrolls data performed strongly, the Fed's expectations of a sharp interest rate cut in July weakened, and the US index was positive, while alumina prices continued to decline, aluminum prices were under pressure, but downstream aluminum inventories declined, showing a slight recovery in demand, supporting aluminum prices
.
In terms of spot, the intraday market supply is sufficient, the enthusiasm of holders to ship is not reduced, because the price has fallen for two consecutive days, the willingness of middlemen to replenish goods at low prices has increased, downstream manufacturers purchase as usual, and the performance of on-demand receiving goods is flat, which has not improved
from the previous day.
Technically, the main 1908 contract of Shanghai aluminum is under pressure on the 10-day moving average, and the green column of the daily MACD indicator is slightly reduced, and it is expected that the short-term shock will adjust.
