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Overnight, the price of aluminum rose first and then declined, and the Sino-US trade friction eased to stimulate price increases, but the sharp rise in the US dollar index and poor Chinese auto sales data inhibited price gains
.
The London Stock Exchange three-month aluminum price closed down 0.
27% at $1816.
5 / ton
.
Shanghai aluminum night trading also rose first and then declined, the main 1911 contract closed flat at 14415 yuan / ton
.
International market: The news that Indonesia has accelerated the implementation of the bauxite export ban has stimulated a rebound in aluminum prices, with London aluminum rising slightly and upper support focusing on $
1,900.
At 15:37 Beijing time, LME 3-month aluminum was $1,823, up $1.
5/ton
from the previous session.
Domestic market: the main monthly 1911 contract of Shanghai aluminum opened at 14370 yuan, the intraday high was 14425 yuan, the low was 14350 yuan, and the end closed at 14415, up 35 yuan / ton
from the previous trading day.
With the arrival of the peak consumption season, aluminum prices have performed firmly, Shanghai aluminum has risen slightly, and it is expected that the market will continue to maintain a volatile trend
.
Market comment: the spot trading price of Yangtze River was 14450-14490 yuan / ton, up 50 yuan / ton; Guangdong South Reserve reported 14410-14510 yuan / ton, up 20 yuan / ton; Hua reported 14560-14580 yuan / ton, up 50 yuan / ton; The average domestic spot trading price is between
14460-14500 yuan / ton.
Aluminum rose slightly during the day, the willingness of holders to raise prices is strong, downstream enterprises are ready to prepare and receive goods before the holiday, and the market transaction is better
.
Market News:
1.
Norsk Hydro, one of the world's largest aluminum producers, said on Tuesday it would close some production facilities and cut some employees to boost profitability in its rolled products business unit
.
2.
Firecrackers sounded in the extrusion workshop of Gansu Hongda Aluminum, and the company's new 5500-ton extruder produced the first profile since installation, marking the successful
trial production of Hongda Aluminum's 5500-ton large extruder production line.
Domestic consumption in the peak season showed an improvement trend, coupled with the large-scale production reduction in August, resulting in a decline in supply, domestic inventories continued to decline, aluminum prices were phased to obtain strong support, short-term recommended to bargain and operate
more.
