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On Monday, the main contract of Shanghai aluminum opened at 14,755 yuan / ton in the morning, in the context of the continued decline in inventory, the bulls took the initiative to enter the market to push up the aluminum price to touch 14,850 yuan / ton, the afternoon capital exit-based, aluminum prices first suppressed and then rose to close at the 14,800 yuan / ton integer mark, Shanghai aluminum index holdings decreased by 4,678 hands to 640,000 lots, continuing to refresh the new low since August 1, 2017, The trading volume decreased by 83,174 lots to 213,000 lots, a new low since June 26, 2017, and from a series of indicators, it can also be experienced that the current lack of theme Shanghai aluminum is difficult to favor by funds, and it still maintains a volatile pattern
in the short term.
Externally, the LME is closed
.
In terms of market, the Shanghai transaction concentration was 14680~14690 yuan / ton, the discount for the month was 70~60 yuan / ton, the Wuxi transaction concentration was 14680~14690 yuan / ton, and the Hangzhou transaction concentration was 14700~14720 yuan / ton
.
The market circulation remained sufficient, the inventory of aluminum ingots continued to decline, promoting the upward trend of aluminum, the willingness of middlemen and downstream enterprises to receive goods increased, and the overall transaction picked up
.
In the late afternoon, aluminum fluctuated downward in the month, and the transaction price in East China was 14670~14720 yuan / ton
.
Fewer
deals.
Market News:
1.
Bauxite is the raw material
of aluminum products such as electrolytic aluminum and alumina.
China is the world's largest producer of electrolytic aluminum, accounting for more than half of the world's output; It is also the world's second largest bauxite producer after Australia, but its reserves account for only 2.
96%
of the world's total.
The huge demand has made China's dependence on bauxite imports as high as
50%.
2.
It was learned from Qijiang District that the district signed 21 projects with a total investment of 19.
138 billion yuan in the Western Fair, involving industry, finance, energy, construction, agriculture and other fields
.
Among the major projects, the annual output of 8 million sets of high-end aluminum alloy auto parts project settled in Qijiang, the project owner has developed an all-aluminum body, which can reduce the weight of the car by one-third
.
On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and the Shanghai-London ratio is at a low level, which is conducive to the export of aluminum profiles and good external demand
.
Technically, the daily moving average closes above the moving average system, the KDJ indicator has a golden cross, and it is expected that the main force of Shanghai aluminum 1807 oscillating operation, the operating range of 14500-15000, for reference
only.
