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LME aluminum fell back on Wednesday, as of 15:01 Beijing time, 3-month Lun aluminum was reported at $1775.
5 / ton, down 0.
22%
on a daily basis.
The main 1908 contract of Shanghai aluminum continued to decline, closing for six consecutive negatives, with the highest 13,700 yuan / ton and the lowest 13,620 yuan / ton within the day, and the closing price of 13,650 yuan / ton, down 0.
44% from the closing price of the previous trading day; The trading volume was 99338 lots, and the daily decrease was 39988 lots; The position was 236,500 lots, a daily decrease of 2,282 lots
.
The basis was expanded to -20 yuan/ton; The price spread of Shanghai aluminum in 1908-1909 narrowed to -15 yuan / ton
.
In the spotlight, China's Caixin services PMI recorded 52 in June, down 0.
7 percentage points from May and the lowest
since March this year.
(2) China's electrolytic aluminum output in June was 2.
9073 million tons, with an average daily output of 96,900 tons, unchanged from the daily output of 96,900 tons in May; China's alumina output in June was 5.
7464 million tons, with an average daily output of 191,500 tons, an increase
from 188,600 tons per day in May.
(3) According to a forecast report jointly released by the Passenger Passenger Vehicle Association and Wilson, the overall wholesale volume of China's passenger car market in July this year is expected to be 1.
54 million units, a decrease of 1.
7%
compared to July 2018.
Spot analysis, on July 3, spot A00 aluminum quotation 13610-13650 yuan / ton, the average price of 13630 yuan / ton, down 20 yuan / ton
from the previous trading day.
When the aluminum price is low in the morning, the willingness of traders to receive goods has increased significantly, there are many receivers in the market, but the market circulation is less, the holder performance is reluctant to sell, slightly up, after 10:30 with the announcement of the online price, the plate has also risen sharply, at this time the shippers have increased significantly, but because of the large increase in aluminum prices, middlemen and traders hesitate to receive goods, and the two sides do not have many
transactions.
Due to the difficulty of traders in early indirect goods, the actual shipments of cargo holders are not much, while the downstream still performs on-demand procurement, which shows that both supply and demand are weak, and the overall transaction in East China is poor
during the day.
Warehouse receipt inventory, Shanghai aluminum warehouse receipts on Wednesday totaled 167595 tons, a daily decrease of 585 tons, down 12 consecutive days; On July 2, LME aluminum stocks were 984,450 tons, a daily decrease of 4,675 tons
.
The main 1908 contract of Shanghai aluminum continued to decline during the day
.
The United States said it would impose new tariffs on the European Union, boosting the dollar, while alumina prices continued to fall, coupled with weak downstream demand, putting pressure
on aluminum prices.
In terms of spot, due to the difficulty of traders in early indirect goods, the actual shipments of cargo holders are not much, while the downstream still performs on-demand procurement, which shows that supply and demand are weak, and the overall transaction in East China is poor
.
Technically, the main 1908 contract of Shanghai aluminum runs to the lower Bollinger band, and the green column of the daily MACD indicator grows, and the short-term volatility is expected to be weak
.
