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LME aluminum fell slightly on Wednesday, as of 15:05 Beijing time, 3-month Lun aluminum was reported at $1740 / ton, down 0.
23%
on a daily basis.
The main 1912 contract of Shanghai aluminum came under pressure downward, with the highest 14020 yuan / ton and the lowest 13905 yuan / ton during the day, closing at 13905 yuan / ton, down 0.
32% from the closing price of the previous trading day; The trading volume was 64890 lots, with a daily increase of 29094 lots; The position was 201,000 lots, an increase of 4,498 lots
per day.
The basis was expanded to 165 yuan/ton; The monthly price of Shanghai aluminum in 1911-1912 was expanded to 20 yuan / ton
.
Market focus: Merkel and British Prime Minister Boris Johnson spoke on Tuesday morning, and Merkel made it clear that a Brexit agreement is "highly unlikely"
.
China's electrolytic aluminum output in September was 2.
8793 million tons, with an average daily output of 96,000 tons, up 00,500 tons from the average daily output of 95,500 tons in August; after September, China's alumina production was 552.
9, down 9.
47% year-on-year, with an average daily output of 184,300 tons, down 00,200 tons from the average daily output of 184,500 tons
in August.
Spot market, on October 9, spot A00 aluminum quotation 14050-14090 yuan / ton, the average price of 14070 yuan / ton, daily increase of 20 yuan / ton
.
The morning transaction is acceptable, the middleman receives the goods actively, the holder actively ships while holding the price, the transaction between the two sides is acceptable, as the aluminum price jumps to the bottom, the market wait-and-see mood gradually rises, although the holder continues to hold the price on the market, but the actual transaction heat is not as hot as in
the morning.
Downstream manufacturers mainly take goods on demand, and there are no obvious highlights
in the receiving status.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 96,280 tons on Wednesday, a daily decrease of 2,546 tons, down for 12 consecutive days; On October 8, LME aluminum stocks were 965575 tons, an increase of 1,350 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 1912 contract are 69266 lots, a daily increase of 1981 lots, short positions are 86315 lots, a daily increase of 13 lots, a net short position of 17049 lots, a daily decrease of 1968 lots, long and short are increased, and the net space is reduced
.
On October 9, the main force of Shanghai aluminum 1912 came under pressure to the downside
.
The risk of Brexit without a deal intensifies, the weakening of the pound and the euro boosts the dollar, while the downward pressure on the global economy increases, coupled with the poor performance of downstream demand, aluminum rod inventory has increased significantly, and aluminum prices are weak, but the current electrolytic aluminum production is still at a low level, electrolytic aluminum inventory shows a downward trend, coupled with the approaching Sino-US trade negotiations, the aluminum price is supported
.
In terms of spot, the morning transaction is acceptable, the middleman receives the goods actively, the holder actively ships while holding the price, with the aluminum price jumping up, the market wait-and-see mood gradually rises, the downstream manufacturers take the goods on demand, and there is no obvious bright
spot in the receiving state.
Technically, the main 1912 contract of Shanghai aluminum is longer in the upper shadow, running below the moving average group, and it is expected to be weak in the short term
.
