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Trade Service
On Monday, the Shanghai aluminum main monthly 1808 contract opened at 14145 yuan, the intraday high of 14165 yuan and the low of 13945 yuan, and closed at 13975 yuan at the end, down 165 yuan / ton
from the previous trading day.
The macro atmosphere of the market is empty, the upward support of aluminum prices is insufficient, Shanghai aluminum fell sharply during the day, the market trade war is not worried, and aluminum prices may maintain a weak volatility in the short term
.
In foreign countries, LME aluminum inventories have also shown a downward trend, and have refreshed the low level in the past 5 years, and the current Shanghai-London ratio is still low, which is conducive to China's exports
.
In addition, it is worth noting that the recent continuous depreciation of the RMB will increase the competitiveness of China's export commodities and also benefit commodities
.
Overall, the decline in aluminum prices may be limited
.
In terms of the market, the spot trading price of Yangtze River was 13870-13910 yuan / ton, down 80 yuan / ton; Guangdong South Reserve reported 13970-14070 yuan / ton, down 50 yuan / ton; Hua reported 13990-14010 yuan / ton, down 80 yuan / ton; The average domestic spot transaction price is between
13890-13930 yuan / ton.
Aluminum fell slightly during the day, holders shipped steadily, middlemen received goods more actively, and market transactions were acceptable
.
In terms of news, data from the National Bureau of Statistics show that China's electrolytic aluminum production in May was 2.
786 million tons, a year-on-year increase of 1.
5%, an increase of 0.
4 percentage points from April, but it was 2.
7 percentage points lower than the same period last year, and China's cumulative output of electrolytic aluminum from January to May was 13.
596 million tons, an increase of 1.
4% year-on-year, although the growth rate increased by 1.
2 percentage points from April, but it was 7.
4 percentage points
lower than the same period last year.
Due to the continued low aluminum prices in the early stage, electrolytic aluminum smelters are generally in a loss-making state, coupled with the recent tightening of environmental protection inspections, some refinery operations have also been affected
.
Therefore, the progress of electrolytic aluminum production capacity is slow
.
Market News:
1.
Japan's July-September aluminum premium was finalized at $132 per ton, up 2% from the previous quarter, due to the rise in spot premium in the United States and supply uncertainty
caused by sanctions against Rusal.
2.
In 2018, Longxi aluminum foil focused on the business idea of rapidly improving the scale of production and marketing, accelerating the five capabilities of marketing, precise management, quality control, scientific and technological innovation, and deepening reform, so as to achieve sustainable, healthy and rapid development
of the company.
