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Overnight, Lun aluminum rushed back down, closing at $1773 / ton, down $4, or -0.
23%.
The main force of Shanghai aluminum 1909 jumped low, closing at 13800 yuan / ton, up 5 yuan / ton, or 0.
04%.
In terms of spot, Guangdong holders are more reluctant to sell, and the market receives more and less; Downstream enterprises mostly purchase on demand or mainly wait and see
.
On the whole, the spot transaction of aluminum ingots is mainly traded by traders, and the transaction is general
.
On the whole, the downstream has entered the off-season of consumption, the consumption performance is general, the decline in inventory has slowed down, and the bearish aluminum price is expected to operate under pressure within 1909 days
.
Industry News:
1.
The total import volume of scrap aluminum scrap in June was 182,700 tons, an increase of 66.
24% year-on-year and 3.
05%
month-on-month.
Among them, the general trade mode imported 126,100 tons of scrap aluminum, an increase of 100.
69% year-on-year and 10.
58% month-on-month, which is the main way
to increase the import of scrap.
The import volume of processing trade was 56,600 tons, an increase of 20.
26% year-on-year and a decrease of 10.
52%
month-on-month.
2.
HKEX announced that the long-brewed and prepared US dollar version (denominated) mini base metal contract will be launched on August 5.
At this point, Hong Kong's financial market has gradually covered the pattern of base metals, precious metals and ferrous metals in the field of commodities, and has achieved dual-currency pricing
for the first time.
HKEX's acquisition of the LME has been a difficult one, providing two different market participants with another option, giving traders who have not yet ventured into the metals sector a simpler way to try
.
Yesterday's Shanghai aluminum intraday night trading overall volatility, the main contract closed at 13800
.
Aluminum current fundamental news is light, inventories after two small retreats after the downward momentum gradually stopped, downstream consumption is still weak
.
Alumina prices continue to fall, but at present, some alumina companies have reported production reduction news, follow-up need to pay attention to whether the production reduction can form a large-scale event, in the context of large new and resumed production capacity at home and abroad, and limited growth of electrolytic aluminum production capacity, a small range of alumina production reduction for the price boost is very
little.
Under the low price of alumina, the repair of industry profits may accelerate the process of electrolytic aluminum supply release, and the fundamentals of electrolytic aluminum are generally weak
.
Under the background of the current macro atmosphere, aluminum prices are expected to continue the trend of weak volatility, and it is recommended to maintain short allocation
.
