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Market review, on Friday, base metals were mixed, of which Shanghai aluminum fluctuated widely, trading at 13690-13780 yuan / ton during the day, and closing at 13760 yuan / ton at the end, up 0.
07%
on the day.
In terms of external trading, as of 15:42 Beijing time, the 3-month Lun aluminum was reported at 1940.
5 US dollars / ton, up 0.
13% on the day, and the lower support level focused on 1920.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13660-13670 yuan / ton, the monthly premium is 30 yuan / ton - 40 yuan / ton, Wuxi transaction price is concentrated 13660-13670 yuan / ton, Hangzhou transaction price is concentrated 13670-13690 yuan / ton
.
Intraday traders and intermediaries are very active in trading, downstream goods are basically purchased on demand, due to the active receipt of goods on the previous day, the stocking behavior has moved forward, the intraday receiving strength has slightly converged compared with the previous day, and the overall transaction in East China is acceptable
.
On the news, the Asian dollar index weakened and is now trading around 96.
888, focusing on the US industrial capacity utilization rate (%)
in October.
In terms of industry, data show that in the first three quarters, the output of China's main aluminum products grew steadily, and the output of alumina, electrolytic aluminum and aluminum was 50.
57 million tons, 25 million tons and 33.
75 million tons, respectively, an increase of 3.
4%, 4.
2% and -1.
5%
year-on-year.
From a fundamental point of view, on the supply side, in terms of bauxite, the northern environmental protection has relaxed slightly, and the domestic supply has increased; In terms of alumina, some enterprises in the heating season reduced production and maintenance, and the supply margin declined; In terms of electrolytic aluminum, the operating capacity fell to 36.
64 million tons, and the loss caused high-cost enterprises to stop production one after another, but there was no large number of maintenance
.
On the demand side, aluminum materials in September were 4.
004 million tons, a slight increase of 1% year-on-year, but a month-on-month decrease of 372,000 tons
.
However, the export side remained high at 482,000 tons, a year-on-year increase of 37.
7%.
Shanghai aluminum wide range volatility during the day, affected by the weakening of the US dollar index, aluminum prices have recently shown a shock adjustment at a low level, traders and middlemen in the spot market are very active, downstream goods are basically purchased on demand, because the previous day of receiving goods actively, stocking behavior moved forward, the intensity of receiving goods slightly converged
compared with the previous day.
Operationally, it is recommended that the Shanghai aluminum 1901 contract sell high and sell low between 13700-13950 yuan / ton, and the stop loss is 100 yuan / ton
each.
