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On Wednesday, the main contract of Shanghai aluminum opened at 14705 yuan / ton in the morning, and after the opening, bulls concentrated a wave of entry to push up aluminum prices to touch 14825 yuan / ton, and then closed in a narrow range at 14790 yuan / ton, and the Shanghai aluminum index position decreased by 60972 hands to 660354 lots
.
After two consecutive sunshine of aluminum in the Shanghai period, the center of gravity shifted
slightly upward.
Short-term aluminum price volatility, medium-term strong view maintained, the current need to continue to pay attention to the spot market discount and transaction activity changes and Sino-US trade friction progress
.
In terms of external trading, Lun aluminum opened at 2325 US dollars / ton in the morning, the Asian session Lun aluminum narrow range oscillation, the center of gravity slightly moved up, the high touched 2338 US dollars / ton, into the European trading session, Lun aluminum continued to fluctuate the market, the overall trend of the day is relatively light, as of 17:36, Lun aluminum reported 2324 US dollars / ton, in the absence of new theme stimulation, short-term is expected to continue the shock market, it is difficult to have a clear direction
.
In terms of the market, Shanghai trading concentrated 14630 ~ 14640 yuan / ton, the month discount 80 ~ 70 yuan / ton, Wuxi transaction concentration 14620 ~ 14640 yuan / ton, Hangzhou transaction concentration 14640 ~ 14650 yuan / ton, afternoon market transaction concentrated in 14640 ~ 14650 yuan / ton, a large aluminum enterprise in the East China market at 14650 yuan / ton continued to receive, due to the recent stabilization of aluminum prices, downstream willingness to buy goods is strong, raw material inventory in the factory has been high, In addition, orders remained stable and did not have a sustained growth momentum, so the buying interest was obviously weakened, the transaction of aluminum rods was not good, and the overall transaction in the East China market within the day was average
.
Market News:
1.
In accordance with the arrangement and deployment of the General Office of the Autonomous Region Government, in order to strictly manage and control the new production capacity of electrolytic aluminum, the Development and Reform Commission of the autonomous region and the Economic and Information Commission recently issued the "Notice on Forwarding the General Office of the National Development and Reform Commission and the General Office of the Ministry of Industry and Information Technology on Further Doing a Good Job in Strictly Managing and Strictly Controlling the Work Related to the New Production Capacity of Electrolytic Aluminum"
.
2.
The United States recently announced that it will extend the exemption period of steel and aluminum tariffs for trading partners such as the European Union for another month, and the United States and Europe will continue relevant negotiations
.
Observers pointed out that the EU does not agree with the tariff substitution measures proposed by the United States, and at the same time is dissatisfied with the US threatening way to promote the negotiations, the negotiations between the two sides are deadlocked, and uncertainty will continue
.
On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and the price of alumina has risen, increasing the cost of
electrolytic aluminum.
Technically, the daily K-line broke through the 20-day moving average, the MACD indicator green column shortened, and it is expected that the main force of Shanghai aluminum 1807 oscillation is strong, pay attention to the 15000 first-line pressure, for reference
only.
