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Trade Service
Overnight LME March electronic trading closed at $2010/ton, up 0.
17%; The Shanghai aluminum 1812 contract closed at 14140 yuan / ton at night, down 0.
25%.
In terms of inventory, LME aluminum stocks were 1062350 tons, down 4,375 tons from the previous trading day, and the aluminum warehouse receipts in the previous period were 626601 tons, down 6,330 tons
from the previous trading day.
In terms of spot, Shanghai trading concentration is 14100~14120 yuan / ton, the discount for the month is 70~50 yuan / ton, Wuxi transaction concentration is 14100~14120 yuan / ton, Hangzhou transaction concentration is 14130~14140 yuan / ton
.
On the whole, after the rising price of aluminum, traders have adjusted prices, and the downstream is basically purchased on demand, holding a wait-and-see attitude
towards prices.
In the afternoon, the transaction price in East China was concentrated between 14100~14140 yuan / ton, and the transaction was light
.
In terms of alumina, East China alumina quoted 3080 yuan / ton, unchanged from the previous trading day; Central China first-class alumina quotation of 3050 yuan / ton, unchanged from the previous trading day; North China primary alumina quotation of 3020 yuan / ton, unchanged
from the previous trading day.
In terms of news, the central bank's high-level statement on releasing liquidity and tax reduction plans stimulated the A-share market sharply, while improving the risk appetite of the commodity market, and Shanghai aluminum first suppressed and then rose
.
On the raw material side, due to the continued strength of mine prices and the decline in alumina prices eroding profits, some alumina companies announced maintenance or production reductions, consolidating the support of alumina prices at the 3,000 yuan / ton mark, and the main risk of dragging down aluminum prices since some time ago was lifted
.
The suppression of consumption before the National Day was released after the holiday, which also helped aluminum prices to stick to the 14,000 yuan / ton mark in the short term, but the sustainability of consumption is doubtful, and the rebound of Shanghai aluminum is highly limited
.