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On Friday, base metals continued to diverge, and the Shanghai aluminum 1810 contract fell into a high oscillation finish, slightly down 0.
53%, trading at 14985-14805 yuan / ton during the day, and closing at 14890 yuan / ton
at the end.
In the external market, as of 16:16 Beijing time, the 3-month Lun aluminum was reported at 2151 US dollars / ton, up 1.
08% per day, the performance was stronger than Shanghai aluminum, and the upper rebound resistance focused on 2200 US dollars / ton
.
In terms of spot, Shanghai aluminum trading concentration is 14770-14780 yuan / ton, the discount for the month is 50-40 yuan / ton, Wuxi transaction concentration is 14770-14780 yuan / ton, Hangzhou transaction concentration is 14780-14790 yuan / ton
.
Although downstream enterprises have weekend stock demand, they only purchase according to just demand, and the overall transaction is weaker
than the previous day.
On the news, the Asian dollar index is weakly oscillating and is now trading around
94.
56.
China's official manufacturing PMI in August was 51.
3%, up 0.
1% month-on-month, higher than the expected 51%, and above the boom-bust line for 25 consecutive months, indicating that the manufacturing industry has generally maintained a steady expansion trend
.
Markets remain weighed down by concerns about U.
S.
-China trade talks, as U.
S.
President Donald Trump's deadline for public comment on tariffs on $200 billion of Chinese goods is September 5, and new tariffs could be implemented
later that month.
In terms of industry, Mexico's Ministry of Economy issued an announcement on August 28 to launch an anti-dumping investigation
into aluminum foil originating in China.
The Mohai tariff number of the product involved in the case is: 7607.
1101
.
Overall, Shanghai aluminum continued to fall under pressure, but still effectively ran above the moving average group, mainly boosted
by the expectation of tight supply of alumina abroad.
At the same time, given the continuous reduction in domestic aluminum inventories, aluminum prices are still expected to oscillate higher
.
Operationally, it is recommended that the Shanghai aluminum 1810 contract can be backed above 14750 yuan to bargain long, the entry reference is around 14850 yuan, and the target is 15050 yuan / ton
.
