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Brief review of the aluminum market on April 2

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Aluminum market review, Shanghai aluminum main 1905 contract opened at 13765 yuan / ton in the morning, boosted by PMI exceeded expectations and the news of the smooth progress of Sino-US trade negotiations, the non-ferrous trend was generally good
.
Shanghai aluminum prices rose all the way, opening bulls took the initiative to increase positions, bears left, the highest touched 13,900 yuan / ton in the morning, and has been running
above all moving averages since last Friday night until the afternoon close.
In the afternoon, some short profits exited, short positions closed and stopped losses, the market price consolidated at a high level, and the daytime closing price was 13870 yuan / ton, up 150 yuan / ton from the previous trading day, an increase of 1.
09%; The main position of Shanghai aluminum increased by 3,328 lots to 262,000 lots, KDJ three-line cross upward to form a golden cross, MACD line red line lengthened, and aluminum prices are expected to fluctuate
upward.

Aluminum City

Nanchu South China aluminum ingot quotation 13680-13780 yuan, the average price of 13730 yuan, down 170 yuan, the current month discount of 30 yuan, after the tax reform premium return, futures up, traders receive goods actively, market circulation is slightly tight, the overall transaction is acceptable
.
The mainstream transaction price is concentrated between 13720-13740 yuan, which is -10~10 yuan
higher than the average price of South China Reserve.

Nanchu East China aluminum ingot quotation 13720-13760 yuan, the average price of 13740 yuan, down 180
.
Yangtze River: 13710-13750, 13730 down 180
.
Traders are actively receiving goods, downstream is slightly stocked, the market circulation is slightly tight, coupled with the futures price all the way up, the spot transaction price is gradually raised, and the overall transaction is
acceptable.
The transaction price is between 13730-13750 yuan, which is a premium of
-10~10 yuan compared with the average price of South Reserve East China.

Due to the rise in the price of aluminum and the decline in spot prices, traders have a strong willingness to receive goods, but the actual transaction is deadlocked; On the same day, the national electrolytic aluminum inventory fell by 10,000 tons, maintaining cautious optimism about consumption in April, and spot prices are expected to remain in an upward channel
.

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