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On Monday, the Shanghai aluminum main monthly 1707 contract opened at 14,065 yuan, with an intraday high of 14,120 yuan and a low of 13,905 yuan, and closed at 13,930 at the end of the session, down 100 yuan / ton
from the previous trading day.
Political worries in the United States have heated up market tensions, Shanghai aluminum fell sharply during the day, lack of favorable support for aluminum prices upward weakness, is expected to continue the short-term narrow range shock trend, Shanghai aluminum 14,000 pressure remains
.
In terms of the market, the spot trading price of Yangtze River was 13770-13810 yuan / ton, down 70 yuan / ton; Guangdong South Reserve reported 13780-13880 yuan / ton, down 80 yuan / ton; Hua reported 13880-13900 yuan / ton, down 70 yuan / ton; The average domestic spot trading price is between
13780-13820 yuan / ton.
Intraday aluminum continued to fall, cargo holders shipped steadily, downstream enterprises increased their willingness to enter the market to purchase, and market transactions picked up
.
In terms of industry, the Aluminum Association released a monthly report showing that in April 2017, the US primary aluminum production was 60,023 tons, down 4.
4% from the previous month and the same period last year; Production for the January-April period was down 24% year-on-year to 241,786 tons
.
For the full year of 2016, U.
S.
primary aluminum production fell 48% year-on-year to a new low of 818,430 tons
.
The Aluminum Association's primary aluminum production data comes from Alcoa, Century Aluminum, Norland Aluminum, Omette Aluminum and Rio Tinto plus Aluminum, which accounts for 100%
of U.
S.
primary aluminum production.
Shanghai aluminum fell slightly, there is pressure at the short-term Wansi Mark, short-term or repeated test of its resistance
.
At present, the demand for aluminum market is in the off-season, aluminum manufacturers generally reflect a decrease in orders, coupled with the pressure of environmental protection and safety supervision, buyers are more cautious in purchasing, and on-demand procurement is the mainstay
.
Overall, the fundamentals and news are generally weak, and the rise in aluminum prices is limited, and the decline is also limited
.
