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Yesterday's Shanghai aluminum intraday night trading volatility retreated, the main contract closed at 14155
.
Hongqiao has issued a statement yesterday that the impact of the flood on the company is very small, the hype sentiment has temporarily stopped, and Shanghai aluminum has begun to shock and fall
.
The short-term fundamentals of electrolytic aluminum remain weak, the expansion of industry profits has brought about the acceleration of new production capacity production, downstream consumption off-season, outbound continued to decrease, and inventory shocks rose
.
After the hype recedes, there is still room below the aluminum price, and short orders can continue to be held, and 13900
is temporarily seen below.
In terms of inventory, LME aluminum stocks were 984,300 tons, down 7,225 tons from the previous trading day, and the aluminum warehouse receipts in the previous period were 137305 tons, down 112 tons
from the previous trading day.
In terms of spot, the transaction price of Shanghai Wuxi market is between 14230-14250 yuan / ton, the opposite plate premium is 20-30 yuan / ton, and the spot transaction price of Hangzhou market is between
14250-14260 yuan / ton.
In terms of news, on August 12, 2019, data from the China Association of Automobile Manufacturers showed that the year-on-year decline in automobile sales in July narrowed, reaching sales of 1.
808 million units, a year-on-year decrease of 4.
3%.
From January to July 2019, vehicle sales totaled 14.
132 million units, down 11.
4%
y/y.
The leaders of the high-level economic and trade consultations between China and the United States called each other, the 300 billion commodity tax encountered another turnaround, the RMB appreciated sharply, the LME metal rose, and the performance of the internal metal was weaker than that of the external disk
.
In the industry, the enthusiasm for chasing heavy rainfall in Shandong has faded, and aluminum prices have given up some of
their gains as scheduled.
However, the production of electrolytic aluminum in the third quarter is limited, resulting in a shortage of supply in the peak season, providing the basis for aluminum prices to rise, even if the rise is given, the pattern of the center of gravity of aluminum prices has not changed
.
