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On Wednesday, the main monthly 1706 contract of Shanghai aluminum opened at 14455 yuan, the intraday high of 14530 yuan and the low of 14130 yuan, and closed at 14255 at the end, down 240 yuan / ton
from the previous trading day.
The sharp decline of black varieties led to the reappearance of non-ferrous panic, and Shanghai aluminum fell sharply during the day, and the trend of aluminum prices will remain weak in the short term, and it is recommended that investors continue to maintain a wait-and-see attitude
.
In terms of spot: Shanghai trading concentration 14000-14070 yuan / ton, discount for the month 160-120 yuan / ton, Wuxi transaction concentration 14000-14060 yuan / ton, Hangzhou transaction concentration 14060-14080 yuan / ton
。 In the first stage, the aluminum rose slightly and then fluctuated above 14200, the holders shipped positively, the transaction was concentrated at 14050-14070 yuan / ton, and then the aluminum fell sharply, the holders of the divergence, the optimists did not stand up, pessimistic and there were value preservation people changed to the current month's discount of 140-120 yuan / ton with the quotation, the willingness of the middleman to receive the goods first rose and then suppressed, the middleman waited and waited for the trend to become clearer after the aluminum fell sharply, the downstream enterprises were more cautious, and the overall transaction showed a wait-and-see
。
In the South China market, the spot trading price in Guangdong is concentrated in 14100~14120 / ton, and the lowest price of the holder is 14050~14060 / ton
before noon.
Dragged down by the black series, the overall metal market is short, Shanghai aluminum performance after the opening is acceptable but then began to decline, the spot market morning transaction is more active, but with the fall of aluminum futures, the market transaction gradually faded, there is almost no procurement action downstream, the overall wait-and-see mood is strong, and the overall transaction of the Guangdong market is not good
during the day.
Industry: Because the electrolytic aluminum project under construction in Xinjiang was suddenly stopped, the market seemed to smell the signal that the production capacity was "about to come", and the price of aluminum rose
sharply.
On April 17, the main contract AL1706 of Shanghai aluminum in the futures market rushed to 14995 yuan / ton, breaking through a four-year high
.
In the spot market, the quotation of electrolytic aluminum is also about
14500 yuan / ton.
Inventory: The latest data shows that the last period of aluminum inventory was 324416 tons, down 75 tons
from the previous trading day.
As of April 18, LME aluminum stocks were 1745750 tons, down 14,100 tons
from the previous session.
Aluminum alloy inventory was 14,080 tons, unchanged from the previous trading day
.
Overall, spot, futures inventories and electrolytic aluminum production increased, putting pressure on aluminum prices, but capacity expectations and production costs supported aluminum prices
.
Technically, the daily K-line has a long lower shadow, indicating that the lower support is strong, the MACD red column is shortened, and the main force of Shanghai aluminum 1706 is expected to fluctuate at a short-term high, with an operating range of 14100-14400
.
