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On Wednesday, the main contract of Shanghai aluminum 1804 stopped falling and stabilized, trading at 14365-14180 yuan / ton during the day, and closing at 14290 yuan / ton at the end, up slightly by 0.
46%
on the day.
The daily closing price of Shanghai aluminum was close to the low point of July 6 last year, indicating heavier
selling pressure from above.
Shanghai aluminum continued the positive arrangement of near low and far high, of which the positive price difference between Shanghai aluminum 1803 contract and 1804 contract remained at 85 yuan / ton
.
In the external market, Asian Lun aluminum rushed back down, of which 3 months Lun aluminum traded at 2210-2177 US dollars / ton, now closed at 2183.
5 US dollars / ton, up 0.
62% per day, the first rise in four trading days, but the upper selling pressure is heavier, the rebound is blocked, short-term technical support focuses on the 60-day moving average of 2150 US dollars / ton
.
In terms of the market, on February 7, Shanghai aluminum trading concentrated 14060-14080 yuan / ton, the discount for the month was 80-60 yuan / ton, Wuxi transaction concentration was 14040-14070 yuan / ton, Hangzhou transaction concentration was 14080-14100 yuan / ton
.
During the day, the shipment strength of cargo holders weakened, the spot discount narrowed compared with yesterday, the middlemen mainly delivered orders, Shanghai Wuxi downstream enterprises purchased on demand, the downstream stock volume in Hangzhou increased, and the overall transaction maintained stability
.
On the news front, rising prices for carbon materials, including anodes and coking coal, could put upward pressure
on the costs of Chinese aluminum producers.
China's environmental tax, which begins this year, could add 70-100 yuan per ton
to the cost of large producers.
The possibility of new tariffs on Chinese-produced aluminum by the United States could lead to a continued decline
in Chinese flat-rolled and other aluminum semi-finished exports to the United States.
In terms of industries, the National Aluminum Corporation of India reported that in the 2016-2017 fiscal year, the company's bauxite production increased by 7.
65%, which was 6.
825 million tons, an increase
compared to 6.
34 million tons of bauxite production in the 2015-2016 fiscal year.
During the day, the Shanghai aluminum 1804 oscillation rose slightly to 14290 yuan / ton
.
Recently, Shanghai aluminum fell endlessly, as domestic inventories continued to reach new highs, supply pressure increased, but after aluminum prices continued to fall, facing over-fall rebound demand, short-term short orders pay attention to take profit and exit the market, it is recommended that Shanghai aluminum 1804 contract can be sold high and low in the range of 14150-14400 yuan, and the stop loss is 100 yuan / ton
each.
