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On Tuesday, the main contract of Shanghai aluminum opened at 14120 yuan / ton in the morning, the bears actively entered the market during the day, aluminum prices continued to be weak downward to explore the market, the afternoon low once fell below the 10,000 mark to 13985 yuan / ton, at the end of the session some bears took profits and left the market, aluminum price repair part of the decline returned to more than 14000 yuan / ton, closing at 14035 yuan / ton
.
In terms of external trading, Lun aluminum opened at 2152 US dollars / ton in the morning, briefly touched 2157 US dollars / ton at the beginning of the session and then returned to the downward rhythm, entering the European trading session Lun aluminum center of gravity continued to move down, the low touched 2138 US dollars / ton, as of 18:05, Lun aluminum reported 2143.
5 US dollars / ton, overseas facing consumption off-season, supply and demand fundamentals marginal weakening, costs also have a slight downward space, short-term is expected to continue to be weak
.
In terms of the market, the Shanghai transaction concentration was 13910~13970 yuan / ton, the discount for the month was 50~40 yuan / ton, the Wuxi transaction concentration was 13910~13970 yuan / ton, and the Hangzhou transaction concentration was 13980~14000 yuan / ton
.
Aluminum prices fell sharply, the market supply circulation is still sufficient, the downward process of aluminum is conducive to the shipper's liquidation, not conducive to the value preservation of the receiver, middlemen and downstream enterprises have a strong wait-and-see mood, and the overall transaction is poor
.
In the late afternoon, aluminum fluctuated at the low level of the month, and the transaction price in East China was 13920~13940 yuan / ton
.
Shanghai aluminum continued the downward trend in the expected, domestic electrolytic aluminum operating capacity to maintain a slow pace of investment, the weakening of the consumption side has become a foregone conclusion, aluminum ingot inventory decline narrowed, the cost side is still in the downward channel, has not yet seen signs of stabilization, medium-term fundamental pressure is still there, superimposed on such as the Sino-US trade war, the pace of shed reform slowdown and other macro background, at present, bearish factors are still greater than positive factors, short-term aluminum prices maintain a weak trend of shock, the effectiveness of the 10,000 integer mark support was tested in the evening
.
