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Aluminum market summary: the decline in the global stock market dragged down the sentiment of the commodity market, overnight aluminum shock after the end of the day stabilized, Sino-US trade agreement will be postponed worries intensified, aluminum prices lack of support upward weakness, it is expected that aluminum today is not much up and down
.
Aluminum maintained a narrow range until noon of the month
.
Shanghai and Wuxi market spot quotation between 14020-14030 yuan / ton, the current month plate premium between 70-90 yuan / ton, because of the high spot price, the holder shipment is very positive, but the middleman tends to receive goods at a low price, more than less spot premium then falls, Hangzhou spot price transaction is concentrated between
14050-14070 yuan / ton.
Today's trading between traders is more general, downstream manufacturers today Friday a small amount of stock, but in view of the high price is difficult to recognize, the amount of goods received is not much
.
The overall transaction in East China today is acceptable
.
The WBMS report shows that the supply gap in the aluminum market from January to September widened, and the 5-year LPR was lowered by 5 basis points recently, although the decline was not large, but this is the first decline in the 5-year LPR, indicating that the real estate policy may be adjusted, which is conducive to the upward
trend of aluminum prices.
Considering that LME aluminum inventories are at a high level, with the release of domestic aluminum smelter capacity in the later period, domestic inventories are also expected to suffer from inventory increase pressure, and aluminum prices are limited to rise
.
It is expected that aluminum prices will fluctuate mainly in the short term, and new orders will wait and see
.
