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On Thursday, the main 1810 contract of Shanghai aluminum opened at 14660 yuan / ton, opening several waves of bulls into the market to pull the price up to 14715 yuan / ton, continue to test the upper block, Shanghai aluminum hovered slightly, bulls took profits to leave the market, Shanghai aluminum tested 14645 yuan / ton, and fluctuated
in a narrow range at 14655 yuan / ton.
In the afternoon of the Asian market, the bears reduced their positions, and Shanghai aluminum pulled back to 14690 yuan / ton, but the announcement of Sino-US tariffs in the afternoon affected the confidence of bulls, and the bulls reduced their positions a lot, causing Shanghai aluminum prices to fall and record a long black line at the end of the day, directly testing the lowest of 14630 yuan / ton
in the day.
Closing at the small black candle, the center of gravity fell from the previous day, down 50 yuan / ton, or 0.
34%.
In terms of external trading, Lun aluminum opened at 2068 US dollars / ton, and Lun aluminum gradually climbed 2074.
5 US dollars at the beginning of the session, reaching a high price
within the day.
The market trading atmosphere in the Asian trading session is not good, the 5-minute K-line is mostly short-term, in the absence of direct price impetus, Lun aluminum all the way down, although there is a slight struggle in the middle of the slight touch of 2063 US dollars / ton, but it is still difficult to change the downtrend, in the 2054 US dollars / ton line slightly hesitated, and finally at the end of the Asian market pulled up to a high of 2064 US dollars
.
Entering the European trading session, Lun aluminum continued to fall to the intraday low price of 2042 US dollars / ton, and then supported by the 5-day line, the price of London aluminum slightly retraced, two pullbacks to 2049 US dollars / ton, and the end of the day at 2047 US dollars / ton line to sort out the price
.
As of 17:55, Lun aluminum closed at 2046 US dollars / ton, closed at the black line, down 19 US dollars / ton, or 0.
92%.
In the spot market, aluminum rose before noon of the month
.
Shanghai transaction concentration 14530 ~ 14550 yuan / ton, for the month discount 60 ~ 50 yuan / ton, Wuxi transaction concentration 14530 ~ 14550 yuan / ton, Hangzhou transaction concentration 14560 ~ 14580 yuan / ton
.
Carriers ship goods stably, middlemen ship goods first and then receive goods at low prices to maintain stable inventory, downstream enterprises purchase on demand, and the overall transaction is average
.
In the afternoon, East China traded 14530~14540 yuan / ton
.
Industry News:
1.
China's aluminum scrap imports in July were 120,000 tons, down 25.
6% year-on-year and still up 9%
from the June level.
2.
On August 23, the domestic electrolytic aluminum consumption area aluminum ingot inventory: Shanghai area 386,000 tons, Wuxi area 738,000 tons, Hangzhou area 110,000 tons
.
Gongyi area 155,000 tons, South China Sea area 235,000 tons, Tianjin 64,000 tons, Linyi 27,000 tons, Chongqing 23,000 tons, consumption of aluminum ingot stocks totaled 1.
738 million tons, down 23,000 tons
from last Thursday.
Overall, there are more macro events in the day, China and the United States levy a 25% tariff of $16 billion per other, although this measure has a limited impact on actual aluminum consumption, but the overall macro worry of the market makes Shanghai aluminum slightly declined, it is expected that short-term Shanghai aluminum will continue to maintain a volatile situation at the 14,500 yuan / ton mark, and continue to provide guidance related to the external market
.
