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On Wednesday, base metals were mixed, indicating that aluminum prices fluctuated at a low level, and long and short trading was frequent
.
Among them, Shanghai aluminum continued to be weak, trading at 13715-13840 yuan / ton during the day, and closing at 13720 yuan / ton at the end of the day, down 0.
36%
on the day.
In the external market, as of 15:33 Beijing time, the three-month Lun aluminum was reported at 1939.
5 US dollars / ton, up 0.
15% on the day, and the upper pressure level was concerned at 1970.
0 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum is concentrated in 13730~13750 yuan / ton, the premium of the current month is 20 yuan / ton ~ premium 30 yuan / ton, the discount of the next month is 50-40 yuan / ton, the transaction price of Wuxi is concentrated 13730~13750 yuan / ton, and the transaction price of Hangzhou is concentrated 13730~13750 yuan / ton
.
The intraday market has sufficient supply, warehouse receipts have become more numerous, traders and intermediaries are actively trading, shipments near the delivery period are not reduced, downstream goods are basically purchased on demand, and the overall transaction in East China is acceptable
.
On the news front, the Asian dollar index rebounded and is now trading around 97.
175, as the euro and pound rose as the United Kingdom and the European Union initially agreed on the withdrawal agreement, triggering investors to take profits on the dollar, and the dollar index fell
from its 16-month peak.
On the industry front, India's Vedanta Ltd.
announced late last week that it intends to increase the alumina capacity of India's Lanjigarh smelter to 6 million metric tons per year from the current 1 million metric tons per year
.
The proposal has been approved
by the Odisha High Level Authority (HLCA).
Shanghai aluminum continued to be weak during the day, as domestic loan growth data was less than expected, and aluminum prices were limited by the decline in the US dollar index; In the spot market, traders and intermediaries are actively trading, shipments near the delivery period are not reduced, and downstream goods are basically purchased
on demand.
Operationally, it is recommended that the Shanghai-aluminum 1901 contract take the opportunity to short around 13800 yuan / ton, and the stop loss refers to 13900 yuan / ton
.
