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On Thursday, the main monthly 1810 contract of Shanghai aluminum opened at 14505 yuan, the intraday high of 14515 yuan and the low of 14225 yuan, and closed at 14440 at the end, down 165 yuan / ton
from the previous trading day.
Global economic development prospects and weak demand worries intensified, the market fell into panic, Shanghai aluminum fell sharply, after a sharp decline in aluminum prices may be repaired, the market continues to pay attention to the 14,500 mark support
.
In the external market, the US dollar index fell to support aluminum prices, intraday London aluminum was shocked and rose, and the upper support focused on $
2100.
At 15:49 Beijing time, the LME 3-month aluminum was $2,037, up $15 from the previous session
.
On the macro front, friction between Turkey and the United States continued to escalate, and the Turkish lira rebounded for the second consecutive day with Qatar's huge assistance, but it still could not alleviate the spread
of panic in emerging countries and even global markets.
Global commodities are in a miserable green, and base metals have plummeted
across the board.
In terms of the market, on August 16, the spot trading price of Yangtze River was 14320-14360 yuan / ton, down 150 yuan / ton; Guangdong South Reserve reported 14370-14470 yuan / ton, down 160 yuan / ton; Hua reported 14420-14440 yuan / ton, down 160 yuan / ton; The average domestic spot trading price is between
14320-14360 yuan / ton.
During the day, the current aluminum fell sharply, the holders actively shipped, the procurement efforts of downstream enterprises were improved, and the market transaction improved
.
Industry News:
1.
Press Metal Group, the largest aluminum smelter in Southeast Asia, recently said that the company's revenue increased by 7%
in the second quarter due to the increase in aluminum prices.
In addition, the strong performance of the US dollar also contributed to
the company's revenue.
2.
Chinalco is a leading enterprise of non-ferrous metals in China, and is currently a large-scale production and operation enterprise
integrating bauxite, coal and other resource mining, production, sales, technology research and development of alumina, primary aluminum and aluminum alloy products, international trade, logistics industry, thermal power and new energy power generation in China's aluminum industry.
