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On Tuesday, the Shanghai aluminum main 1803 contract immediately fell sharply to 14200 yuan at the open, and then fluctuated in a narrow range, diving again to 14135 yuan before closing, and finally closing at 14140 yuan, down 215 yuan, or 1.
50%.
Index positions increased by 12,584 lots to 821,000 lots, and the trading volume expanded to 523,000 lots
.
The LME aluminum March contract opened sharply lower and weakened to $2,182, edged higher at $2,201.
5 during the session, before coming under pressure again, closing at $2,184, down $23, or 1.
04%.
In terms of the market, the price quotation of electrolytic aluminum in Shanghai Nonferrous Metals Trading Center is 14050-14090 yuan / ton, which continues to be 50 yuan / ton lower than the previous trading day, the spot discount is reported to C140-C100 yuan / ton, the morning market is mainly shipped, the downstream is basically on holiday, the transaction is carried out in the easy business, the willingness to receive goods is slightly boosted, the middleman continues to report large discount to receive goods, and the overall trading of the market is general
.
Nanchu South China aluminum ingot quotation 14060-14160 yuan, the average price of 14110 yuan, down 70 yuan
.
Downstream holiday, traders are mainly trading, the discount is slightly expanded, the mainstream transaction price is concentrated between 14110-14120 yuan, which is 0~+10 yuan
higher than the average price of South China Reserve.
Nanchu East China aluminum ingot quotation 14060-14100 yuan, the average price of 14080 yuan, down 50; Yangtze River: 14080-14120, average price 14100, down 30
.
Demand is insufficient, holders adjust prices and shipments, market transaction prices are lower, and transactions are
acceptable.
The spot price fell from 14080 yuan to around 14050 yuan, which is a premium of -30~0 yuan
compared with the average price of South Reserve East China.
Inventory, warehouse receipts increased by 2,439 tons to 758186 tons, and the high point has been continuously updated since the end of last year
.
LME stocks fell by 8,825 tonnes to 1066225 tonnes, an overall decline since 2014 and a return to end-2007 levels
.
Due to the strong US non-farm payrolls data, Yellen's speech exceeded market expectations and was hawkish, the market was worried that the pace of Fed interest rate hikes accelerated, global stock markets fell sharply, and the domestic futures market performed poorly, and the colored side ran
weakly.
Fundamentally, electrolytic aluminum inventories remain high, downstream demand is weak due to the end of the year, and after the holiday, it faces production capacity restrictions and resumption of production, and aluminum prices are likely to decline
.
