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LME aluminum rebounded on Thursday, and as of 16:00 Beijing time, 3-month Lun aluminum was reported at $1805 / ton, up 0.
11%
per day.
The main 1912 contract of Shanghai aluminum rebounded, with the highest 13990 yuan / ton and the lowest 13895 yuan / ton during the day, closing at 13980 yuan / ton, up 0.
18% from the closing price of the previous trading day; The trading volume was 116,100 lots, an increase of 25,446 lots per day, and the position was 207,800 lots, a daily decrease of 3,456 lots
.
The basis was reduced to 130 yuan/ton; The price difference between Shanghai aluminum from 1912 to 2001 widened to 110 yuan / ton
.
Market focus: The Commerce Ministry said the United States and China agreed to phase out tariffs
as the agreement progresses.
Indonesia has imposed "protective" tariffs on imported aluminum foil, with a tariff of 6% from November 7, 2019 to November 6, 2020 and a tariff of 4% from November 7, 2020 to November 6, 2021
, according to a statement.
Spot analysis: On November 7, the spot A00 aluminum quotation was 14090-14130 yuan / ton, the average price was 14110 yuan / ton, and the daily increase was 10 yuan / ton
.
Intraday cargo holders are more willing to ship, but the middleman is still relatively positive, the two sides are actively trading, the downstream is still calm, the wait-and-see mood is strong, and there are not many
goods.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 61,335 tons on Thursday, a daily decrease of 954 tons, down 16 consecutive days; On November 6, LME aluminum stocks were 948,600 tons, a daily decrease of 2,675 tons, a 16-day
decline.
Main positions: the top 20 long positions of Shanghai aluminum main 1912 contract are 65392 lots, minus 5 lots per day, 79516 short positions are held daily, 1374 lots are minus 1374 lots, net short positions are 14124 lots, daily minus 1369 lots, long and short are reduced, and net space is reduced
.
On November 7, the main force of Shanghai aluminum 1912 rebounded
.
The strong trend of the US dollar index, as well as the release of electrolytic aluminum production capacity expectations, put pressure on aluminum prices, but there is good news from the Sino-US trade situation, the possibility of an agreement between the two sides has increased, market risk sentiment has returned, and the current electrolytic aluminum inventory dematerialization continues, and China's scrap aluminum import approvals have fallen sharply, coupled with the introduction of environmental protection production restrictions in the fourth quarter, aluminum prices have performed strongly
.
In terms of spot, the willingness of the holders to ship is strong, but the middlemen are still relatively positive in receiving goods, the two sides are actively trading, the downstream is still calm, the wait-and-see mood is strong, and there are not many
goods.
Technically, the main 1912 contract of Shanghai aluminum is long and the lower shadow, and the daily MACD red column is incremented, and the short-term shock is expected to be strong
.
