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On Wednesday, the main monthly 1907 contract of Shanghai aluminum opened at 14060 yuan, with an intraday high of 14080 yuan and a low of 13955 yuan, and closed at 13980 at the end, down 25 yuan / ton
from the previous trading day.
Aluminum inventories continued to decline, indicating that the aluminum market in the second quarter was more destocked, aluminum prices were supported, Shanghai aluminum rose slightly during the day, and it is expected that the future market will rise or fall limitedly, and investors are advised to maintain a wait-and-see
for the time being.
Internationally, the dollar index fell buoyed, intraday aluminum rose slightly, and upper support focused on $
1900.
At 15:52 Beijing time, LME 3-month aluminum was $1783.
5, up $5.
5/ton
from the previous session.
In terms of the market, the spot trading price of Yangtze River was 14060-14100 yuan / ton, up 10 yuan / ton; Guangdong South Reserve reported 14130-14230 yuan / ton, up 10 yuan / ton; Hua reported 14170-14190 yuan / ton, up 10 yuan / ton; The average domestic spot trading price is between
14060-14100 yuan / ton.
Intraday aluminum rose slightly, and the shippers shipped positively, but the sentiment of downstream enterprises was not high, and the market transaction was average
.
Shanghai aluminum fell slightly during the session, near noon, the front-month contract was held around Wansi, traders reported a rise of 10 ~ liters of 30 yuan / ton for the June contract at the beginning of the session, and the overall premium quotation was slightly higher
than the previous day.
Approaching the last trading day of the 1906 contract, a small number of traders turned to the July contract quotation, and the July report rose by about
50 yuan / ton.
It is understood that in recent days, the market supply is tight, downstream demand is also limited, although traders have traded small premiums, but the overall transaction is weak, intraday middlemen receive goods more actively, driving some market transactions
.
Market News:
1.
In terms of bauxite policy, except for Guinea's bauxite investment and export policy, the policies of other countries are still tight
.
2.
From the data of many authoritative institutions at home and abroad, the life of China's bauxite basic resources (that is, storage-production ratio, reserves divided by output) is far lower than the global average
.
