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Market review, on Monday, base metals mostly oscillated and rebounded, of which the Shanghai nickel 1811 contract rose ahead, up 1.
49%, while Shanghai aluminum bucked the trend, 1810 contract slightly fell 0.
03%, intraday trading at 14475-14370 yuan / ton, the end of the day closed at 14455 yuan / ton, the current aluminum price is running at the interweaving of moving averages, long and short trading cautious
.
In the external market, as of 16:00 Beijing time, the 3-month Lun aluminum was reported at 2059 US dollars / ton, a daily rebound of 1.
38%, stronger than Shanghai Aluminum, as the US dollar index fell
from the high.
In terms of spot, on August 20, Shanghai spot aluminum trading concentrated 14320-14330 yuan / ton, the monthly discount 50-40 yuan / ton, Wuxi spot transaction 14310-14330 yuan / ton, Hangzhou spot transaction 14330-14340 yuan / ton
.
There are many shipping merchants in the East China market within the day, and the market circulation is abundant, but the quotation is relatively deadlocked, and the willingness to dump goods is not shown, and the downstream and middlemen receive goods at low prices, and the overall transaction in the East China market is acceptable
.
On the news, the Asian dollar index oscillated slightly, now trading around 96.
2, and this week the market focused on the Sino-US trade talks that will take place on Tuesday and Wednesday, and there are optimistic expectations
in the market.
In terms of industry, on August 20, SMM statistics domestic electrolytic aluminum social inventory (including SHFE warehouse receipt): the total inventory of aluminum ingots in consumption areas was 1.
741 million tons, down 20,000 tons
from last Thursday.
Overall, the Shanghai aluminum oscillation fell slightly, funds continued to flow out of the aluminum market, and long-short trading tended to be cautious
.
As the dollar index remained relatively high, the rebound in aluminum prices was weak
.
However, given the continuous reduction of domestic aluminum inventories, aluminum prices are still expected to oscillate higher
.
Operationally, it is recommended that the Shanghai aluminum 1810 contract can sell high and low in the range of 14400-14600 yuan / ton, and the stop loss is 150 yuan / ton
each.
