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Overnight, the LME March electronic session closed at $2064.
5/mt, up 1.
0%, giving up all of Friday's gains; The Shanghai aluminum 1811 contract closed at 14,640 yuan / ton overnight, up 0.
14%.
In terms of inventory, LME aluminum stocks were 1006775 tons, down 6,275 tons from the previous trading day, and the aluminum warehouse receipts in the previous period were 668423 tons, down 3,291 tons
from the previous trading day.
In terms of spot, the Shanghai trading concentration in the previous trading day was 14540~14550 yuan / ton, the discount for the month was 50~30 yuan / ton, the Wuxi transaction concentration was 14540~14550 yuan / ton, and the Hangzhou transaction concentration was 14550~14570 yuan / ton
.
The shipment attitude of the holders maintained a high degree of positivity, the overall market circulation of excess supply, the middlemen cautiously waited and watched, mainly for the downstream to receive goods, the first day after the holiday back downstream enterprises although there is a demand for stocking, but still wait and see, the overall transaction shows oversupply, spot stickers have signs of
expansion.
In terms of alumina, Guiyang's primary alumina quotation was 3175 yuan / ton, unchanged from the previous trading day; Shanxi first-class alumina quotation was 3340 yuan / ton, unchanged from the previous trading day; Henan first-class alumina quotation was 3350 yuan / ton, unchanged from the previous trading day
.
In terms of news, the Ministry of Housing and Urban-Rural Development sent a letter to the local government to cancel the pre-sale permit for housing for in-depth research, if implemented, it will lead to developers' financial constraints and a slowdown in development progress, affecting construction-related metal consumption, and Shanghai aluminum closed slightly lower
.
In terms of policy, the expectation of VAT reduction has eased, and the short-term and distant monthly price difference between Shanghai and aluminum has converged
.
In terms of raw materials, the price of overseas Australian alumina FOB fell rapidly to 535 US dollars / ton
.
In terms of consumption, the latest electrolytic aluminum declined, aluminum rod inventories were flat, and the spot market performance was flat
after the holiday.
On the whole, there is a potential small amount of stock demand at the spot end before the National Day holiday, and the market trading is cautious during the Fed's interest rate meeting, and the Shanghai aluminum shock is the mainstay
.