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LME aluminum fluctuated more on Tuesday, and as of 15:00 Beijing time, the three-month Lun aluminum was reported at $1765.
5 / ton, down 0.
03%
on a daily basis.
The main 1909 contract of Shanghai aluminum fell slightly, with the highest 13910 yuan / ton and the lowest 13860 yuan / ton within the day, and the closing price of 13865 yuan / ton, down 0.
11% from the closing price of the previous trading day; The trading volume was 90,300 lots, a daily decrease of 33,524 lots, and the position was 216,400 lots, an increase of 2,608 lots
per day.
The basis was expanded to 35 yuan/ton; The price difference between Shanghai and aluminum from 1909 to 1910 narrowed to 0 yuan / ton
.
Market focus: People's Bank of China will issue two tranches of RMB central bank bills in Hong Kong on August 14, 2019, with a total issuance of 30 billion yuan, including 20 billion yuan of 3-month central bank bills and 10 billion yuan
of 1-year central bank bills.
The United States announced that it intends to impose 10% tariffs on $300 billion of Chinese exports to the United States, and China said that relevant companies have suspended purchases of US agricultural products
.
Rusal suspended operations of its Achinsk alumina plant on Monday and evacuated all but those necessary due to a fire at a
nearby military base.
Spot analysis, on August 6, spot A00 aluminum quotation 13880-13920 yuan / ton, the average price of 13900 yuan / ton, up 60 yuan / ton
from the previous trading day.
The price rebounded during the day, and the holders actively shipped, but considering that the market supply was tighter than the previous looseness, the performance was strong, and some middlemen were optimistic about the future market, and the receiving was active, and the spot premium was raised, but due to the higher price, the actual transaction was slightly
deadlocked.
Downstream manufacturers purchase on demand, the performance is afraid of heights, and there is no bright
spot in the receiving state.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 141414 tons on Tuesday, a daily decrease of 397 tons; On August 5, LME aluminum inventory was 1,020,000 tons, a daily decrease of 4,200 tons
.
Main positions: the top 20 long positions of the main 1909 contract of Shanghai aluminum are 78382 lots, with a daily increase of 2478 lots, short positions of 80765 lots, a daily increase of 914 lots, a net short position of 2383 lots, a daily decrease of 1564 lots, both long and short increases, and the net space decreases
.
Market research and judgment: On August 6, the main 1909 contract of Shanghai aluminum fell slightly
.
The escalation of the Sino-US trade war and the rise of market pessimism have put pressure on aluminum prices, but aluminum inventories have a downward trend, and upstream alumina plants have reduced production, which still supports aluminum prices
.
In terms of spot, intraday prices rebounded, holders actively shipped, some middlemen were optimistic about the future market, received goods actively, spot premium has risen, but due to higher prices, the actual transaction is slightly deadlocked, downstream manufacturers purchase on demand, performance is afraid of height
.
Technically, the main 1909 contract of Shanghai aluminum is running above the 10-day moving average, and short-term volatility is expected to be strong
.
