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On Tuesday, the main monthly 1705 contract of Shanghai aluminum opened at 14,050 yuan, with an intraday high of 14,065 yuan and a low of 13,835 yuan, and closed at 13,870 yuan at the end of the day, down 190 yuan / ton
from the previous trading day.
Recently, due to the rise of geopolitical risks, market panic has heated up, Shanghai aluminum fell sharply during the day, and it is difficult for aluminum prices to get rid of the weak shock market in the short term, it is recommended that investors can maintain a wait-and-see
first.
In the external market, the US labor market index in March was significantly lower than expected and the previous value weighed on market enthusiasm, and the intraday aluminum rebound was weak, and the support below focused on $
1900.
At 16:08 Beijing time, the LME 3-month aluminum was $1921.
5, up $0.
5 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 13720-13760 yuan / ton, down 80 yuan / ton; Guangdong South Reserve reported 13720-13820 yuan / ton, down 130 yuan / ton; Hua reported 13830-13850 yuan / ton, down 80 yuan / ton; The average domestic spot trading price is between
13720-13760 yuan / ton.
Intraday aluminum continued to fall, holders of shipments were positive, downstream enterprises' willingness to receive goods has rebounded, and market transactions have picked up
.
On the macro front, geopolitical tensions heated up on Tuesday, with the US aircraft carrier group north, North Korea's tough response, and fears of imminent war shrouded Northeast Asia, which also shocked capital markets
.
The performance of foreign financial markets remained stable overnight, only gold rose and the dollar fell to reflect the hedging effect, while domestic industrial products generally fell sharply, and the panic atmosphere was heavier
.
Fears of a short war are likely to continue
.
For the domestic financial market, the strengthening of financial supervision, financial deleveraging and other superimposed housing market control effects, macro expectations turned short, coupled with the United States launched a survey on China's steel and aluminum exports, containment of China's exports of concerns intensified, represented by black commodities are still continuing to decline, paying attention to the possibility
that the rally of industrial products since last year has turned.
In terms of news, China is the world's largest consumer and producer of aluminum, and aluminum is widely used in many fields, especially new energy vehicles and smart home appliances
.
Alumina is the main raw material for aluminum, in recent years, with the development of China's economy, the development of the alumina industry is also in a sunny state, production capacity is expanding rapidly, and gradually get rid of the situation of relying on overseas patterns
.
Last night, Shanghai aluminum continued to fluctuate slightly around Wansi, and inventories continued to climb is one of the reasons for the short-term restriction of aluminum prices, but the medium and long-term aluminum prices have policy support, and the future trend is still optimistic
.
