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On Friday, the main contract of Shanghai aluminum 1805 contract bottomed out, trading at 13630-13830 yuan / ton during the day, and closing at 13770 yuan / ton at the end of the day, down 0.
36% per day, for the fifth consecutive day at a low level, the performance was much weaker than other base metals
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between Shanghai aluminum 1805 contract and 1806 contract remained at 65 yuan / ton
.
In terms of external trading, this Friday and next Monday LME market closed, 3 months Lun aluminum latest report 2005 US dollars / ton, this week has accumulated a decline of 2.
39%, for the eighth week of the past nine weeks of decline, the first quarter of this year cumulative decline of 12.
06%, the decline ranked first in the base metals, the current Lun aluminum hit a new low since August 7 last year, the short-term decline is obvious, the lower support moved down to 1950 US dollars / ton
.
In terms of the market, on March 30, Shanghai aluminum trading concentrated 13640-13660 yuan / ton, the discount for the month was 70-60 yuan / ton, Wuxi transaction concentration was 13640-13660 yuan / ton, Hangzhou transaction concentration was 13650-13660 yuan / ton
.
After the fall of aluminum in the future, the holder controls the shipment, the circulation of the source of goods decreases, the spot discount narrows, due to risk concerns, the middleman stocking strength weakens, but the downstream enterprises are willing to stock up at low prices on weekends, and the overall transaction is better
.
In terms of news, the results of China's winter production restriction action were disappointing, and aluminum inventories continued to rise to suppress aluminum prices
.
In addition, the metal market suffered a comprehensive setback this month, as the Sino-US trade dispute intensified, and the recent trade issue may be expected to be resolved through negotiations, market worries have eased, and domestic aluminum prices have been more resilient
.
In terms of the industry, it is reported that the National Development and Reform Commission issued the "Special Treatment Plan for the Standardized Construction and Operation of Coal-Fired Captive Power Plants" on March 22, which may significantly increase the cost of
electrolytic aluminum.
During the day, Shanghai aluminum 1805 oscillated to 13770 yuan / ton, weaker than other base metals, but in the past week, domestic aluminum social inventory began to decrease, and the growth rate of aluminum inventory slowed down in the previous period, and the sustainability of inventory reduction needs to be paid attention to in the later stage, and the short-term aluminum price decline momentum has weakened
.
It is recommended that the Shanghai aluminum 1805 contract can sell high and low in the range of 13700-13950 yuan / ton, and the stop loss is 80 yuan / ton
each.
