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On Monday, the Shanghai aluminum main 1811 contract opened at 14515 yuan / ton in the morning, and it was hit head-on by bears at the open, briefly touching 14450 yuan / ton, and then fluctuating in a narrow range near the 14470 yuan / ton line, and the 5-minute K line recorded a long negative column at the end of the day, testing the lowest of 14430 yuan / ton on the day, refreshing a new low in nearly three weeks, and closed at 14445 yuan / ton, down 140 yuan / ton, down 0.
96%.
In terms of external trading, Lun aluminum jumped low at 2020 US dollars / ton in the morning, touched a low of 2011 US dollars / ton at the open, and basically maintained volatility around 2016 US dollars / ton during the Asian trading session, with a volatility range of no more than 10 US dollars / ton, and the Asian market touched the lowest 2007 US dollars / ton
at the end of the day 。 Entering the European trading session, the US dollar fell back to the high, Lun aluminum was boosted and began to rise at a low level, along the way to the high of 2032 US dollars / ton, as of 18:00, the late volatility again recorded 2037 US dollars / ton, closed at 2036 US dollars / ton, up 1 US dollars / ton, up 0.
05%, intraday close, but due to the overall bearish impact of the macro atmosphere, the center of gravity has sunk, it is expected to continue to consolidate around 2030 US dollars, continue to pay attention to the US dollar index, Rusal
。
In the spot market, aluminum fluctuated downward in the month
.
Shanghai transaction concentration is 14450~14470 yuan / ton, for the current month's flat water to premium 10 yuan / ton, for the next month discount 20~10 yuan / ton, Wuxi transaction concentration 14450 ~ 14470 yuan / ton, Hangzhou transaction concentration 14480 ~ 14500 yuan / ton
.
Holders are actively shipped, warehouse receipts maintain a large circulation, middlemen continue to operate cautiously, downstream enterprises have not yet entered the preparation time of double festival (Mid-Autumn Festival + National Day), temporarily purchased according to just demand, and the overall transaction supply exceeds demand
.
Market News:
1.
As of today, less than 4 months before the end of 2018, electrolytic aluminum capacity replacement index trading has entered the "white-hot" stage, and major aluminum plants are competing for the few remaining indicator quotas, and rushing to "drop the bag for safety"
before the policy change.
Harbor Intelligence, an Austin, Texas-based research institute, said that regardless of whether the United States maintains sanctions against Rusal, the world's second-largest aluminum producer, "we expect aluminum prices to decline
in 2019 and 2020.
" ”
In terms of news, last Friday, the US retail sales monthly rate for August and the University of Michigan consumer confidence index both performed well to boost the US dollar, the intraday market trading atmosphere is light, non-ferrous metals are almost fully under pressure, it is expected that Shanghai aluminum short-term maintenance of weak volatility, continue to pay attention to the trend of the US dollar index and related macro dynamics
.
