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Aluminum futures market: On Wednesday, the main 1705 contract of Shanghai aluminum rushed to 13840 yuan after the morning open, and then the price fell to 13720 yuan, and then fluctuated throughout the day, and the price rebounded again at the end of the morning high to 13870 yuan, falling slightly before closing
.
By the time it closed at 13,805 yuan, the price was flat
.
The position decreased by 12,502 lots to 296,000 lots, and the trading volume increased to 366,000 lots
.
Intraday aluminum oscillated
in a narrow range.
It opened high at $1924, then came under pressure to a minimum of $1914, then launched a strong rebound, rushed to $1932 at the end of the day, and fell slightly before closing
.
As of the Asian market closing at $1925, up $2, or 0.
10%.
Industry: According to foreign media news, Japanese buyers directly involved in the negotiations said that the region's aluminum premium will remain at $128 / ton in the second quarter, up $33 or 35% from $95 in the first quarter; Weiqiao aluminum deep processing park was officially opened, and the first batch of 7 enterprises settled in, with a total investment of 9.
7 billion yuan, involving an aluminum production capacity of more than 800,000 tons
.
Spot market: the spot trading price of Yangtze River was 13470-13510 yuan / ton, down 20 yuan / ton; Guangdong South Reserve reported 13510-13610 yuan / ton, up 20 yuan / ton; Hua reported 13580-13600 yuan / ton, down 20 yuan / ton; The average domestic spot trading price is between
13490-13530 yuan / ton.
Aluminum fell slightly during the day, holders controlled shipments, middlemen traded actively, both supply and demand performance were available, and the overall transaction picked up
.
The recent rise in coal prices has brought about the increase in the cost of electrolytic aluminum, especially the restriction of exports of coal in Guizhou, making local aluminum prices firm, and the upper 14,000 yuan mark is difficult to break through because of high inventory, and yesterday's aluminum social inventory increased by 14,000 tons to 1.
165 million tons
.
At present, the current aluminum is still in a state of large discount, and it is difficult to change
the shock situation when consumption is still weak.
Spot aluminum prices rose slightly during the day, and the short-term trend continued to fluctuate in a narrow range, and the overall trend was still weak
.
Some analysts believe that the current aluminum market production and inventory upward pressure is still large, but as long as the aluminum price falls close to the industrial cost line, the support below should come out
.
Therefore, the short-term aluminum price rise is limited, and the decline is also limited
.
