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On Thursday, the main monthly 1908 contract of Shanghai aluminum opened at 13930 yuan, the intraday high of 13985 yuan was 13920 yuan, and the end closed at 13955, down 20 yuan / ton
from the previous trading day.
The recent poor performance of domestic data has suppressed the market demand prospects, Shanghai aluminum fell slightly during the day, the aluminum market lacked upward momentum, and it is expected to maintain the volatile market unchanged
in the short term.
Externally, the Sino-US trade agreement has not yet been reached, the market sentiment is not optimistic, intraday aluminum fell slightly, and the support below is concerned about $
1700.
At 15:43 Beijing time, LME 3-month aluminum was $1,783, down $3.
5/ton
from the previous session.
In terms of the market, the spot trading price of Yangtze River was 14040-14080 yuan / ton, down 20 yuan / ton; Guangdong South Reserve reported 14110-14210 yuan / ton, down 20 yuan / ton; Hua reported 14150-14170 yuan / ton, down 20 yuan / ton; The average domestic spot trading price is between
14040-14080 yuan / ton.
Aluminum fell slightly during the day, and the shippers shipped positively, but the enthusiasm of downstream enterprises to purchase was not high, and the market transaction was poor
.
Market News:
1.
Guizhou is rich in bauxite reserves, ranking third in China, and the distribution of bauxite is relatively concentrated, mainly located in Zunyi and Qingzhen areas
.
2.
Liaoning Zhongwang Group invested and built an annual output of 1 million tons of high-precision aluminum deep processing project, with an estimated investment of 21 billion yuan, the first phase of the land of 4432 mu, mainly the construction of passenger cars and parts, special vehicles and parts, aluminum alloy building formwork, environmental protection all-aluminum furniture and other 4 industrial projects, and supporting the construction of Luoyang non-ferrous metal trading center
.
The main contract of Shanghai aluminum temporarily encountered resistance at the 14,000 mark during the day, with a slight decline, and closed at 13955 at the end of the day, down 20 yuan, or 0.
14%, from the previous trading day; In the past two days, alumina prices have returned to the downtrend, which is not conducive to the trend of electrolytic aluminum, coupled with the current gradual weakening of consumption, the lack of driving force for aluminum prices to rise, short-term is expected to be difficult to improve, Shanghai aluminum or still hovering around the 14,000 mark, pay attention to the price trend of alumina on the cost side; it is expected that spot aluminum fluctuates little, or falls
slightly.
