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On Monday, the Shanghai aluminum main month 1901 contract opened at 13,880 yuan, with an intraday high of 13,920 yuan and a low of 13,810 yuan, and closed at 13,860 at the end of the session, down 55 yuan tons
from the previous trading day.
The market lacks favorable stimulus, demand has not improved, the trend of aluminum prices is still under pressure, Shanghai aluminum fell slightly during the day, and it is expected that the market will continue to maintain the volatility unchanged
.
In the external market, the United States postponed sanctions against Rusal to ease market risk aversion, intraday aluminum rose slightly, and the upper support focused on $
2,000.
At 15:42 Beijing time, the LME 3-month aluminum was $1,958, up $3 from the previous session
.
In the spot market, the spot trading price of the Yangtze River on Monday was 13820-13860 yuan / ton, down 30 yuan / ton; Guangdong South Reserve reported 13830-13930 yuan / ton, down 50 yuan / ton; Hua reported 13920-13940 yuan / ton, down 30 yuan / ton; The average domestic spot trading price is between
13820-13860 yuan / ton.
Aluminum fell slightly during the day, some holders slightly raised prices, downstream enterprises were willing to receive goods, and the market transaction was average
.
Industry News:
1.
Emirates Global Aluminium Company (EGA) announced that it will send two SD40-2 shunting locomotives for the construction of its subsidiary Guinea Alumina Company for the construction
of local bauxite mining projects and related export facilities.
2, Washington, November 10, the United States said that the sanctions against Rusal, EN+ and Gaz PAO were postponed by nearly four weeks, and the major shareholders of these companies are making plans to reduce their shareholding
.
In terms of news, the time of US sanctions against Rusal continued to be postponed, which was bearish for aluminum prices; Recently, Lun aluminum inventory is showing signs of recovery, LME registered warehouse receipt aluminum inventory has risen 22% in the past month, aluminum prices are under upward pressure, it is expected that Shanghai aluminum maintain a weak trend, now aluminum or fall.
