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Overnight LME March electronic trading closed at $1981 / ton, down 0.
23%; The Shanghai aluminum 1901 contract closed at 13955 yuan / ton overnight, up 0.
00%.
In terms of inventory, LME aluminum stocks were 1055025 tons, an increase of 1350 tons from the previous trading day, and the aluminum warehouse receipt of the previous period was 603385 tons, an increase of 2001 tons
compared with the previous trading day.
In terms of spot, Shanghai trading concentration is 13890~13900 yuan / ton, the discount for the month is 40~30 yuan / ton, Wuxi transaction concentration is 13890~13900 yuan / ton, Hangzhou transaction concentration is 13900~13910 yuan / ton
.
Traders in the market are still active in shipments, middlemen's willingness to receive goods has been greatly improved, some large households have obvious receiving behavior, the mainstream transaction price in the market has increased compared with the previous day, the downstream receiving goods are flat, and the overall transaction is acceptable
.
In terms of alumina, Guiyang primary alumina quotation was 3140 yuan / ton, unchanged from the previous trading day; Shanxi first-class alumina quotation was 3185 yuan / ton, unchanged from the previous trading day; Henan first-class alumina quotation was 3185 yuan / ton, unchanged
from the previous trading day.
On the news front, Brazil maintained the 50% ban on Hydro Alunorte, but due to repeated news of this part of the production capacity, the market stimulus was significantly weakened, the Fed interest rate meeting said that the labor market and household spending remained strong, paving the way for a rate hike in December, and the dollar rose, which also weighed on metals
.
Domestically, SMM announced that primary aluminum production in October was 3.
114 million tons, a year-on-year increase of 3.
5%.
Due to the launch of new production capacity, the operating capacity in September did not continue the contraction momentum in July and August
.
In the short term, if there is no new production reduction stimulus, there will be greater pressure on Shanghai aluminum to hit the 14000 mark
.
