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Shanghai aluminum continued the weak decline on Thursday, it is recommended that investors continue to maintain the strategy of intraday short testing, intraday attention to the support around 14080, if it falls below this support, then Shanghai aluminum ushered in an accelerated decline in the market, short orders can continue to hold
.
In terms of inventory, the latest inventory of LME aluminum was 1164975 tons, down 12,275 tons from the previous trading day, and the aluminum warehouse receipt of the previous period was 253933 tons, down 6,662 tons
from the previous trading day.
In terms of spot, the Shanghai transaction price is between 14160-14180 yuan / ton, the price is more than 40 yuan / ton from the previous day, the monthly premium is 10~20 yuan / ton, Wuxi spot transaction is between 14160-14180 yuan / ton, Hangzhou transaction price is between
14220-14240 yuan / ton.
The market supply is sufficient during the day, and although the shippers are active, due to the suspension of procurement by a large household near the end of the month, the market is slightly oversupplied, the actual transaction price is gradually falling, and the inquiry and quotation between traders are active
.
The enthusiasm of downstream receiving goods has not been significantly improved, and the procurement is flat
.
In terms of news, Chifeng Qihui Aluminum Development Co.
, Ltd.
plans to build an alumina project
in Malin Industrial Park, Chifeng City.
With a total investment of 17 billion yuan and a construction scale of 6.
5 million tons/year of alumina, the project uses imported bauxite as the main raw material to produce metallurgical-grade sand-like alumina
by Bayer method.
Three low-temperature production lines, two high-temperature production lines, single line capacity of 1.
3 million tons/year, the project includes alumina production equipment and public auxiliary facilities
.
After completion, it will become the world's most technologically advanced and largest single alumina enterprise, and will become a landmark project
in the global aluminum industry.
The impact of environmental events on alumina supply gradually faded, alumina prices began to fall, and the decline in raw material prices weighed on
aluminum prices in the context of the undercurrent of trade disputes.
The raw material end of alumina runs at a high level, but still erodes the profits of the electrolytic aluminum industry, the process of electrolytic aluminum resumption is slow, and the production capacity is still lower than the same period last year, and the production growth rate from January to April is only 1%, which inhibits the depth of the aluminum price pullback, which is expected to be around
14100.
