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Market review, Shanghai aluminum closed slightly higher on Friday, Shanghai aluminum 1905 contract traded at 13795-13855 yuan / ton, closed at 13840 yuan / ton, up 0.
07%
daily.
In the external market, as of 15:35, the 3-month Lun aluminum was reported at 1860.
50 US dollars / ton, up 0.
08%
on the day.
On the industry front, Emirates Global Aluminium (EGA) said on Wednesday that its $3.
3 billion All Taweelah alumina refinery has begun commercial production
.
The company said in a statement that once full production is achieved, the aluminum plant is expected to produce 2 million tons of alumina
per year.
、
In terms of the market, the performance of aluminum futures in the first trading stage of the month was volatile to the upside, and the second trading stage maintained range volatility
.
The mainstream transaction price in Shanghai is between 13820-13840 yuan / ton, and the flat water of the month is around 20 yuan / ton, which is only about 20 yuan / ton higher than the previous day's price, the transaction price in Wuxi is between 13820-13840 yuan / ton, and the transaction price in Hangzhou is between
13850-13860 yuan / ton.
The intraday market is more abundant, because the market asking price is high, the holders are actively shipping, and the trading between traders and middlemen is very active
.
Due to the approaching weekend, downstream manufacturers have significantly increased their acceptance of goods compared with previous days, and their enthusiasm for procurement has increased
.
East China transactions are generally good
.
In terms of inventories, LME aluminum stocks were 1,086,075 tons on April 11, down 4,550 tons from the previous session; As of April 04, 2019, the Shanghai Futures Exchange electrolytic aluminum inventory was 722,092 tons, down 12,898 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
The main contract of Shanghai aluminum closed slightly higher during the day, the current aluminum fundamentals are still relatively weak, the cost side support is weak, and the continuous upside of aluminum prices is limited
.
In the spot market, the supply of goods is sufficient, because the market asking price is high, the holders are actively shipping, and the trading between traders and middlemen is very active
.
Due to the approaching weekend, downstream manufacturers have significantly increased their acceptance compared with previous days, their purchasing enthusiasm has improved, and the overall transaction is good
.
Operationally, it is recommended that the Shanghai-aluminum 1905 contract can consider rebounding and selling short by backing 14,000 yuan / ton
.
