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On Monday, the Shanghai aluminum main 1809 contract opened at 14400 yuan / ton in the morning, while the lower shadow touched 14385 yuan / ton, reaching the lowest price
of the day.
Affected by the rise of the daily moving average, the price of Shanghai aluminum along the 10-day moving average began to rise from a low level, reaching the highest transaction price of the day of 14460 yuan / ton, and then until the noon of the daily market, the price fluctuated
around 14445 yuan / ton.
In the afternoon, the US dollar index rose, and the price of Shanghai aluminum plunged to a low of 14405 yuan / ton, and then continued to maintain volatility until the end of the day, briefly touching a high of 14450 yuan / ton and then falling to a low of 14405 yuan / ton
at the end of the session.
In terms of the external market, Lun aluminum opened at 2058 US dollars / ton, bulls have entered the market, the Asian market before the afternoon London aluminum gradually climbed to touch 2069 US dollars / ton, the afternoon price shock falls, and at the end of the Asian trading session, touched the intraday low price of 2052 US dollars / ton
.
Entering the European session, affected by the lower US dollar index, Lun aluminum touched a low rebound, along the 5-day moving average stage rise, touching the intraday high of 2075.
5 US dollars / ton, by the daily moving average inhibition price fell slightly, as of 17:50, Lun aluminum closed at 2070.
5 US dollars / ton, up 17.
5 US dollars / ton, up 0.
85%.
In terms of the market, the center of gravity of aluminum rose steadily in the month
.
Shanghai transaction concentration 14290 ~ 14300 yuan / ton, the discount for the month 70 ~ 60 yuan / ton, Wuxi transaction concentration 14290 ~ 14300 yuan / ton, Hangzhou transaction concentration 14300 ~ 14320 yuan / ton
.
Traders and shipments to reduce warehouse preparation, market circulation slightly declined, and middlemen are willing to receive goods, resulting in a reduction of spot discount of about 20 yuan / ton, downstream enterprises still purchase according to just demand, the overall transaction is more active, concentrated among
traders.
Market News:
1.
The 2018 Magnesium and Titanium Processing Transformation and Upgrading Summit Forum with the theme of "Environmental Protection, Energy Conservation, Innovation and Efficiency" was held
at the Wushan Campus of South China University of Technology.
Guangdong High-performance Aluminum-Magnesium-Titanium Alloy New Material Industry Technology Innovation Alliance was established
at the same time.
2.
In the second half of this year, Pingguo will mainly promote the pre-baked anode project with an annual output of 400,000 tons of strong carbon, the 90,000-ton dry aluminum fluoride project of Hetai Technology, the comprehensive utilization project of 100,000 tons of scrap aluminum renewable resources and the commissioning and production of Ruiqifeng aluminum deep processing project
.
Overall, Shanghai aluminum is mainly oscillating operation, and the overall center of gravity has been slightly raised
.
Alumina prices have slowed down, but they are still firm, and the upward shift in the cost of electrolytic aluminum will continue to support aluminum prices
.
Electrolytic aluminum inventories remained high and increased slightly yesterday
.
Downstream consumption has not improved, trading is mainly concentrated among traders, aluminum prices still need to cooperate
with consumption.
In the later stage, we will continue to pay attention to inventory and demand changes, and it is expected that Shanghai aluminum will maintain a volatile operation
in the short term.
