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On Thursday, the main monthly 1811 contract of Shanghai aluminum opened at 14510 yuan, with an intraday high of 14625 yuan and a low of 14475 yuan, and closed at 14505 at the end, down 95 yuan / ton
from the previous trading day.
At present, the market supply is sufficient, but the downstream consumer demand has not improved, the upward trend of aluminum prices is weak, and Shanghai aluminum fell sharply within the day, and the volatile market remains unchanged
in the short term.
In the international market, the fall in crude oil prices weighed on the sentiment of the commodity market, and intraday aluminum fell slightly, and the support below focused on $
2,000.
At 15:44 Beijing time, LME 3-month aluminum was $2,051.
5, down $6 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 14470-14510 yuan / ton, down 20 yuan / ton; Guangdong South Reserve reported 14570-14670 yuan / ton, down 10 yuan / ton; Hua reported 14570-14590 yuan / ton, down 20 yuan / ton; The average domestic spot trading price is between
14470-14510 yuan / ton.
Intraday aluminum fell slightly, and the holders shipped positively, but the willingness of middlemen and downstream enterprises to receive goods was not high, and the market transaction was relatively weak
.
Industry News:
1.
Alcoa CFO Bill Smith? Bill Oplinger said: "Due to strikes in Western Australia and some equipment problems experienced by the company, we estimate that the company's alumina production could be reduced by 2 to 3 per cent per
day in the third and second quarters.
2.
"China is a big importer of alumina, with a net import of more than 2 million tons every year, and net exports are expected this year, which surprises the market
.
" Industry insiders said
.
In terms of news, the Shandong Provincial Price Bureau recently triggered a notice on reducing general industrial and commercial electricity prices and related matters, which clarifies the policy cross-subsidy standards for captive power plant enterprises, which means that the electricity cost of local electrolytic aluminum enterprises increases
.
In the later period, relevant policies of other provinces and cities may be introduced one after another, and the cost difference of national electrolytic aluminum enterprises may be narrowed
.
Recently, the market has been greatly affected by macro and policy aspects, and the price has maintained a volatile trend, and it is recommended to wait and see
for the time being.
