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On Friday, the main contract of Shanghai aluminum 1804 contract oscillated slightly, trading at 14370-14240 yuan / ton intraday, closing at 14270 yuan / ton, down 0.
14% on a daily basis, the current daily closing price of Shanghai aluminum is close to the low set on July 6 last year
.
Shanghai aluminum continued the positive arrangement of near low and far high, of which the positive price difference between Shanghai aluminum 1803 contract and 1804 contract remained at 85 yuan / ton
.
In the external market, Asia Lun aluminum continued to decline, of which 3 months Lun aluminum traded at 2172-2153 US dollars / ton, now closed at 2154 US dollars / ton, down 0.
71%, the fifth day of decline in the past six trading days, showing that the short-term decline risk remains, short-term or 60-day moving average around 2150 US dollars / ton oscillation sorting
.
On the macro front, the Asian dollar index stabilized and is now trading around 90.
1, while the plunge in global equity markets boosted risk aversion and weighed
on investment sentiment in the base metals market.
In terms of industry, SMM statistics in January alumina production was 5.
711 million tons
.
In terms of the market, on February 9, Shanghai aluminum trading concentrated 13960-13980 yuan / ton, the discount for the month was 120-110 yuan / ton, Wuxi transaction concentration was 13960-13980 yuan / ton, Hangzhou transaction concentration was 13950-13970 yuan / ton
.
The Spring Festival holiday entered the countdown, traders in the market began to close the market for the holiday, the source of circulating goods decreased, the middlemen mainly received goods for the downstream, and a small number of downstream prices fell below 10,000 and received goods during the day, and the overall transaction became cold
.
The price of South Reserve East China aluminum ingots was 13970-14010 yuan, with an average price of 13990 yuan, down 110; Yangtze River: 13930-13970, 13950 down 130
.
The spot aluminum price broke 4,000, and the downstream purchased slightly, and the transaction turned weak
.
The mainstream transaction price is concentrated between 13950-13980 yuan, which is -40~-10 yuan
higher than the average price of South Reserve East China.
The price of South China aluminum ingots was 14040-14140 yuan, and the average price was 14090 yuan, down 90 yuan
.
Approaching the Spring Festival, traders and downstream manufacturers have a holiday, market supply and demand are weak, the mainstream transaction price is between 14090-14130 yuan, which is 0~40 yuan
higher than the average price of South China Reserve.
During the day, Shanghai aluminum 1804 weakly sorted out to 14270 yuan / ton, the performance resisted the decline in copper and nickel, mainly boosted by the demand for technical rebound
.
However, the high domestic aluminum inventory will limit the height of aluminum rebound, and it is recommended that the Shanghai aluminum 1804 contract can be sold high and low in the range of 14150-14400 yuan, and the stop loss is 100 yuan / ton
each.
