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On Tuesday, the main monthly 1901 contract of Shanghai aluminum opened at 13,880 yuan, with an intraday high of 13,950 yuan and a low of 13,780 yuan, and closed at 13,915 at the end of the day, unchanged
from the previous trading day.
Poor domestic data indicates that the downward pressure on the economy has increased, aluminum market demand may be limited, Shanghai aluminum stabilized within the day, the market was insufficient, and the upward trend of aluminum prices was weak, and it is expected to maintain a volatile trend
in the short term.
Externally, global trade worries persisted, market panic remained, intraday aluminum fell slightly, and the support below focused on $
1900.
At 15:33 Beijing time, LME 3-month aluminum was $1970.
5, down $4 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 13850-13890 yuan / ton, up 10 yuan / ton; Guangdong South Reserve reported 13900-14000 yuan / ton, up 30 yuan / ton; Hua reported 13950-13970 yuan / ton, up 10 yuan / ton; The average domestic spot trading price is between
13850-13890 yuan / ton.
Aluminum has risen slightly, holders are actively shipping, middlemen and downstream enterprises receive more goods, and the market transaction is acceptable
.
Industry News:
1.
In 2018, the trend of alumina market at home and abroad is not calm
.
The downward price trend that began in November 2017 continued in the first quarter of 2018, and prices fluctuated in the second and third quarters due to policy adjustments and events at major overseas aluminum producers
.
2.
Germany's automobile industry produces a large amount of aluminum scrap
.
Germany exports around 1 million tonnes of scrap every year, and the trend
is increasing every year.
According to global import and export data, Germany exported 1.
05 million tonnes of scrap in 2016 and further grew by around 2% to 1.
07 million tonnes
in the following year.
