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Market review, Shanghai aluminum fell on Friday, Shanghai aluminum 1904 contract traded at 13620-13690 yuan / ton, closed at 13685 yuan / ton, down 0.
04%
per day.
In the external market, as of 15:33, the 3-month Lun aluminum was reported at $1910.
00 / ton, up 0.
26%
on the day.
In terms of industry, Moscow, February 28, Rusal said on Thursday that it has no plans to
reserve aluminum except to ensure the orderly operation of its own supply chain.
In terms of the market, the transaction price in Shanghai was 13540-13550 yuan / ton, and the morning aluminum fell rapidly, and the discount narrowed from 80 yuan / ton to 40 yuan / ton, and then the low level of aluminum stabilized, and the discount was around
50-40 yuan / ton.
Traders are actively trading, the first trading stage is mainly shipped by holders, the second trading stage is due to the aluminum price in the middle of the week low price, the receiver gradually increased, in addition, Chinalco did not announce a procurement plan, but the downstream price is more recognized superimposed on Friday stocking, the enthusiasm for receiving goods has improved, and the overall transaction in East China is good
.
In terms of inventories, LME aluminum stocks were 1,219,700 tons on February 28, down 4,375 tons from the previous session; As of February 22, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 736,680 tons, an increase of 5 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum rebounded during the day, due to weakening cost support, aluminum prices weakened, but with the sharp recovery of Caixin China's manufacturing purchasing managers' index in February and the strengthening of crude oil prices, aluminum prices gradually recovered
.
In the spot market, because the price of aluminum is at the low price level this week, the number of receivers is gradually increasing, and the overall transaction is good
during the day.
On the technical side, aluminum is supported by the 60-day moving average below, but the MACD indicator tends to stabilize, indicating that the market has divergent on the trend of the aluminum market, and the wait-and-see attitude is obvious
.
