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On Tuesday, the main contract of Shanghai aluminum opened at 14010 yuan / ton in the morning, and after touching 14050 yuan / ton slightly at the beginning of the session, it opened the shock downward mode, and the afternoon low once touched 13930 yuan / ton, the end of the session short cover, aluminum price repair part of the decline closed at 13990 yuan / ton, Shanghai aluminum index position increased by 3460 hands to 779538 lots, short-term need to continue to pay attention to the long and short for the 10,400 mark and inventory changes
.
In terms of external trading, in the morning, Lun aluminum opened at 2085 US dollars / ton, the Asian session Lun aluminum trend is relatively light, around the 5-day moving average oscillation, running at 2082 ~ 2092 US dollars / ton, into the European trading session, Lun aluminum inertia first suppressed and then rose, the low touched 2076 US dollars / ton after a sharp rise to touch 2096.
5 US dollars / ton, at the same time Germany, the United Kingdom and the eurozone macroeconomic data is less than expected, the dollar is strong up, Lun aluminum in the initial test of 10-day moving average resistance after the pressure to fall, as of 17 :59, Lun aluminum reported 2087 US dollars / ton, short-term Lun aluminum is expected to continue to fluctuate between
the 5/10 daily moving average.
In terms of the market, the Shanghai transaction concentration was 13780-13800 yuan / ton, the discount for the month was 120-110 yuan / ton, the Wuxi transaction concentration was 13780-13800 yuan / ton, and the Hangzhou transaction concentration was 13790-13800 yuan / ton
.
Spot prices rise, holders have a positive attitude towards shipments, discount water to maintain stability, middlemen have no room for operation, spot prices rise, downstream enterprises wait and see sentiment breeds, only according to just demand procurement, the overall transaction supply exceeds demand
.
In the late afternoon, aluminum fell that month, and the low trading price in East China touched 13,750 yuan / ton, and then the aluminum price recovered, and the quotation rose to 13,780 yuan / ton
.
Industry News:
1.
Xinhua News Agency reported on March 20 that the US Department of Commerce announced on the 19th that from the same day, US companies can apply to the Department of Commerce to request exemption from the upcoming steel and aluminum tariffs
.
It is expected that by 2030, the aluminum consumption of the electric vehicle industry will increase tenfold from 2017 to nearly 10 million tons
.
The application of primary aluminum, aluminum extruded products and rolled products will be much higher than today's fuel-powered vehicles
.
On the whole, the current inventory continues to refresh the historical high and there is new production capacity, demand has not fully recovered, aluminum prices will be under pressure, and the cost side may support
aluminum prices.
Technically, the daily K-line continues to be suppressed by the moving average, the MACD indicator green column is shortened, and the Shanghai aluminum oscillation is expected to run, the operating range is 13800-14300, for reference
only.
