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Overnight, the main 1905 contract of Shanghai aluminum opened at 13550 yuan / ton, closed an hour after the opening of a hammer black line, and then the long position reduction price downward, into the second half of the night short funds entered, aluminum prices under pressure continued to leak, fell below all moving averages to the lowest level of 13465 yuan / ton after maintaining a narrow range of shocks, and finally closed at 13475 yuan / ton, down 30 yuan / ton, down 0.
22%.
It is expected to run at 13350~13650 yuan / ton within the day, and the spot premium discount is 70 ~ 30 yuan / ton
for the contract of the month.
Domestic spot aluminum prices remained stable, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was 13710 yuan / ton, unchanged
.
The price of AOO aluminum ingots in East China was 13,720 yuan / ton, unchanged
.
RUSAL expects aluminum demand to pick up after the global trade situation stabilizes; Lun aluminum inventory stopped falling and rebounded, Shanghai aluminum inventory rose for five weeks, social inventory continued to accumulate, fundamentals continued to weaken, and spot aluminum prices are expected to fall
today.
In terms of fundamentals, the price of alumina has been sharply reduced, the transaction of low-price shipments has been active, and the loss of electrolytic aluminum has improved; The inventory reported 1.
749 million tons, stopping the increase and falling, and the inventory of aluminum rods has decreased significantly during the same period, and demand has gradually recovered
.
The favorable trade between China and the United States is gradually digested, the macro-level favorable will face gradual realization, and the downward pressure on the economy is once again being scrutinized by the market; The commissioning of new production capacity is expected to increase, and supply pressure is expected to increase
.
It is expected to remain weak
in the short term.
