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On Wednesday, the main monthly 1811 contract of Shanghai aluminum opened at 14,630 yuan, with an intraday high of 14,680 yuan and a low of 14,540 yuan, and closed at 14,555 yuan at the end of the day, down 215 yuan / ton
from the previous trading day.
The market is favorable and investors are high risk aversion, the trend of aluminum prices is weak, and Shanghai aluminum fell sharply during the day, the current market macro news is uncertain, aluminum prices or maintain volatility, it is recommended that investors buy a small amount of bargains
.
Abroad, domestic and foreign inventories continued to decline support, intraday aluminum rose slightly, and the upper support focused on $
2100.
At 15:53 Beijing time, the LME 3-month aluminum was $2,057, up $7 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 14490-14530 yuan / ton, down 100 yuan / ton; Guangdong South Reserve reported 14580-14680 yuan / ton, down 150 yuan / ton; Hua reported 14590-14610 yuan / ton, down 120 yuan / ton; The average domestic spot trading price is between
14490-14530 yuan / ton.
Aluminum fell sharply during the day, holders shipped steadily, downstream enterprises maintained on-demand procurement, and market transactions remained stable
.
Industry News:
1.
On September 11, as negotiations on the North American Free Trade Agreement (NAFTA) have ended, Heidi Brock, president and CEO of the American Aluminum Association, today called on the Trump administration to exempt Canada and Mexico from aluminum tariffs
.
According to the Financial Times, the head of the mining group South32 said that the price of alumina, a key material used to make aluminum, may reach a new high
before the end of the year as the supply situation becomes increasingly tight.
Shanghai aluminum night trading further declined, September contract in the morning overall held below 14500 yuan / ton trading, holders quotations are relatively firm, mostly shipped in premiums, but the average spot price is still lower with the futures price, a decrease of more than 100 yuan, middlemen are increasingly willing to receive goods, market trading performance is acceptable
.
At present, the aluminum ingot spot market has sufficient supply, and the downstream consumer demand has not shown obvious signs of improvement, focusing on on-demand procurement, and paying short-term attention to the implementation of
environmental protection policies.
