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Market review, Shanghai aluminum continued to decline on Thursday, Shanghai aluminum 1905 contract traded at 13505-13600 yuan / ton, closed at 13505 yuan / ton, down 0.
55%
on the day.
In the external market, as of 15:33, the 3-month Lun aluminum was reported at 1871.
00 US dollars / ton, up 0.
00%
on the day.
In terms of industry, Intertax news agency quoted the CEO of Rusal, a Russian aluminum giant, as saying that Rusal expects aluminum production to reach 3.
8 million tons
in 2019.
The Company plans to resume its 2019 contracts with customers in the next three to four months and is in consultation
with new customers this month.
The market is on the other side, the transaction price in Shanghai is between 13680-13700 yuan / ton, the discount for the month is between 30-10 yuan / ton, the transaction price is basically the same as yesterday, the transaction price in Wuxi is between 13680-13700 yuan / ton, and the transaction price in Hangzhou is between
13680-13700 yuan / ton.
Chalco received more than 5,000 tons
of goods in East China.
The intraday market has sufficient supply, holders are actively shipping, and traders are actively trading, but downstream manufacturers are still mainly purchasing on demand, and the price is not well recognized
.
The overall transaction in East China is average
.
In terms of inventories, LME aluminum stocks were 1,233,150 tons on March 05, an increase of 2,925 tons from the previous session; As of March 1, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 747,012 tons, an increase of 10,332 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum continued to decline during the day, the current aluminum fundamentals are weak, downstream procurement is not active, so that domestic aluminum inventories continue to grow, resulting in pressure on aluminum prices
.
In the spot market, the supply is sufficient, the holders are actively shipping, and the traders are actively trading, but the downstream manufacturers are still mainly purchasing on demand, and the price is not well recognized
.
On the technical side, the red column of the MACD indicator of the Shanghai aluminum 1905 contract further shrank and fell below the average combination, and the short-term aluminum price trend is in a weak trend
.
