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LME aluminum fell slightly on Friday, as of 15:01 Beijing time, 3-month Lun aluminum was reported at $1803 / ton, down 0.
36%
per day.
The main 1908 contract of Shanghai aluminum fell back, with the highest 13895 yuan / ton, the lowest 13760 yuan / ton, and the closing price of 13790 yuan / ton, up 0.
11% from the closing price of the previous trading day; The trading volume was 107,600 lots, an increase of 17,020 lots per day, and the position was 214,700 lots, a daily decrease of 15,676 lots
.
The basis was expanded to 20 yuan/ton; The price difference between Shanghai aluminum in 1908-1909 widened to 0 yuan / ton
.
Market focus: On Friday evening, the US non-farm payrolls report after the June quarterly adjustment and the US unemployment rate
for June will be released.
Metro Mining has signed an agreement with Chinalco to deliver 420,000 wet tonnes of bauxite in the second half of this year, which will be shipped to smelters in Shanxi due to dwindling
bauxite supplies in the region.
At present, METRO Mining has completed 90%
of the 2019 sales target of 3.
3 million to 3.
5 million wet tons of bauxite.
Spot analysis: On July 5, the spot A00 aluminum quotation was 13790-13830 yuan / ton, and the average price was 13810 yuan / ton, up 50 yuan / ton
from the previous trading day.
The market has sufficient supply during the day, because the price of aluminum has risen for two consecutive days, and the holders have started the source of goods at a low level a few days ago, so today's shipments are active, and some middlemen who signed weekly average price or monthly average price purchase orders are actively picking up goods today, and selling spot goods is also more active, and trading enthusiasm
with traders.
Due to the demand for stocking near the weekend, the willingness to receive goods within the day has increased significantly, and the buying status has improved significantly compared with the previous two days
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 160781 tons on Friday, a daily decrease of 5,942 tons, down 13 consecutive days; On July 4, LME aluminum stocks were 971,500 tons, a daily decrease of 6,250 tons, a 40-day
decline.
During the day, the main 1908 contract of Shanghai aluminum rushed back down
.
The upcoming US non-farm payrolls data will affect market expectations for a July interest rate cut, after the market is cautious, while alumina prices have fallen to lower levels, pressure on aluminum prices has weakened, and the downside is expected to be limited
.
In terms of spot, due to the demand for stocking near the weekend, the willingness to receive goods within the day has increased significantly, and the buying status has improved significantly compared with the previous two days
.
Technically, the 10th and 20-day moving averages of the main 1908 contract of Shanghai aluminum are tested, and the KDJ indicator has a golden cross, and it is expected that there will be more
short-term volatility.
