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Trade Service
Market review, Shanghai aluminum closed slightly lower on Thursday, Shanghai aluminum 1905 contract traded at 13810-13860 yuan / ton, closed at 13830 yuan / ton, down 0.
11%
on the day.
Position volume 224526, -7486, basis -20, +0
from the previous day.
In the external market, as of 15:35, the 3-month Lun aluminum was reported at 1865.
50 US dollars / ton, down 0.
05%
on the day.
In terms of industry, foreign media reported on April 10 that Emirates Global Aluminium (EGA) said on Wednesday that its $3.
3 billion All Taweelah alumina refinery has begun commercial production
.
The company said in a statement that once full production is achieved, the aluminum plant is expected to produce 2 million tons of alumina
per year.
In terms of the market, the performance of aluminum futures in the first trading stage of the month was volatile to the upside, and the second trading stage maintained range volatility
.
The mainstream transaction price in Shanghai is between 13800-13810 yuan / ton, and the price of Pingshui in the same month is only 10 yuan / ton lower than the previous day, the transaction price in Wuxi is between 13800-13810 yuan / ton, and the transaction price in Hangzhou is between
13820-13840 yuan / ton.
The intraday market is more abundant, the holders are actively shipping, the trading between traders and intermediaries is still active, and the procurement performance of downstream manufacturers is average
.
The overall transaction in East China was flat, and the activity was not as good as the previous day
.
In terms of inventories, LME aluminum stocks were 1,090,625 tons on April 10, down 3,975 tons from the previous session; As of April 04, 2019, the Shanghai Futures Exchange electrolytic aluminum inventory was 722,092 tons, down 12,898 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum closed slightly lower during the day, the current aluminum fundamentals are still relatively weak, the cost side support is weak, and the continued upward space of aluminum prices is limited
.
In the spot market, cargo holders are actively shipping, traders and intermediaries are still active, and downstream manufacturers have average purchasing performance today
.
Market transactions were generally flat, and activity was not as active as the previous day
.
