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Trade Service
On Thursday, non-ferrous metals fluctuated and diverged, and Shanghai aluminum rose
slightly.
The main monthly 1804 contract of Shanghai aluminum opened at 14290 yuan, the intraday high of 14425 yuan and the low of 14280 yuan, and closed at 14390 at the end, up 115 yuan / ton
from the previous trading day.
China's February Caixin manufacturing data exceeded expectations to support the development prospects of aluminum prices, Shanghai aluminum rose sharply during the day, with the gradual recovery of market demand, it is expected that there is still room for further growth in short-term aluminum prices
.
Abroad, the Fed's probability of raising interest rates in March increased, the market maintained a cautious wait-and-see, and London aluminum fell slightly on Thursday, and the support below focused on $
2100.
At 16:02 Beijing time, the LME 3-month aluminum was $2,127, down $4.
5 from the previous session
.
In terms of the market, the spot trading price of the Yangtze River was 14130-14170 yuan / ton, up 120 yuan / ton; Guangdong South Reserve reported 14140-14240 yuan / ton, up 70 yuan / ton; Hua reported 14230-14250 yuan / ton, up 120 yuan / ton; The average domestic spot trading price is between
14120-14160 yuan / ton.
Aluminum rose sharply during the day, some holders actively shipped, downstream enterprises increased their willingness to receive goods, and market transactions picked up
.
Market News:
1.
The US Department of Commerce issued a statement on the 27th, saying that the final ruling was that the dumping range of aluminum foil products exported by China to the United States was 48.
64% to 106.
09%, and the subsidy range was 17.
17% to 80.
97%.
2.
According to Reuters, EU trade ministers met yesterday (27th) and agreed to take action in response
after the United States imposed tariffs on imported steel and aluminum.
Overall, downstream purchases are still cautious, market transactions are light, and short-term metals are expected to remain range-bound
.
In the medium term, overseas non-ferrous metal inventories continue to decline, and the recovery of domestic downstream enterprises will increase the demand for metals, and maintain a bullish attitude
towards non-ferrous metals.
