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Today's Shanghai aluminum main month 2009 contract opened at 14250 yuan / ton, the highest intraday 14475 yuan / ton, the lowest 14245 yuan / ton, settled 14360 yuan / ton, and closed at 14360 yuan / ton, up 115 yuan
.
Today's Shanghai aluminum trend is strong, Rusal expects aluminum prices to continue to be sluggish this year, the current fundamentals continue to weaken marginally, aluminum prices are still under pressure
.
Today's London aluminum volatility is strong, LME three-month aluminum Beijing time at 15:01 at 1786.
5 US dollars / ton, up 1.
5 US dollars, or 0.
08%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 14590-14630 yuan / ton, up 170 yuan; Guangdong South Reserve reported 14520-14580 yuan / ton, up 180 yuan; Hua reported 14710-14730 yuan / ton, up 170 yuan
.
The enthusiasm of large households to receive goods is general, and the downstream purchases on demand, and the transaction is mediocre.
In terms of inventories, the latest inventory data showed that it was 739,000 tons, an increase of 14,000 tons from last Thursday, and the accumulation rate accelerated
.
In August, the number of new orders for profiles, strips and cables gradually declined, the operating conditions of processing enterprises formed a differentiation, the orders of leading enterprises can still maintain the stable operation rate, and the operating rate of small and medium-sized enterprises has declined due to insufficient orders, and domestic demand has further weakened, but it is expected to maintain growth
year-on-year.
In terms of exports, overseas is in the stage of economic recovery, but under the condition of high internal and external ratios, the increase in exports driven by the improvement of external demand is still limited, and exports are expected to remain low
.
On the supply side, the new production capacity mainly in Yunnan region continues to be released, according to the production plan, the capacity increase in the second half of the year will be significantly improved, and the supply growth trend will remain unchanged
。 Consumption off-season accumulation kicked off, from the estimated accumulation volume, off-season domestic aluminum ingot inventory is expected to return to the level of 80-900,000 tons, absolute volume is still low, so the rhythm of the price actually depends on the control of market bulls, last week the month of the bulls have faded, "forced position" risk mitigation, in this case, aluminum prices have a pullback demand, but in the face of the peak season in September, inventory will usher in a downward inflection point, aluminum prices still have strong support, short-term still wait-and-see-based, Pay attention to the downward rhythm of aluminum prices and the subsequent accumulation, you can consider going long
before the peak season.
