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LME aluminum fell slightly on Tuesday, and as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1783 / ton, down 0.
14%
on a daily basis.
The main 1911 contract of Shanghai aluminum fluctuated and fell, with the highest 14255 yuan / ton and the lowest 14105 yuan / ton within the day, closing at 14155 yuan / ton, down 0.
42% from the closing price of the previous trading day; The trading volume was 133,000 lots, an increase of 55,430 lots per day, and the position was 227,600 lots, a daily decrease of 1,598 lots
.
The basis was expanded to 165 yuan/ton; The price difference between Shanghai aluminum in 1911-1912 narrowed to 35 yuan / ton
.
Market focus: The Eurozone manufacturing PMI fell to 45.
6 in September from 47.
0 in the previous month, indicating a further deepening
of the Eurozone manufacturing contraction.
Trump addressed the United Nations General Assembly on Tuesday as heightened tensions between the United States and Iran sparked heightened risk aversion
.
In August 2019, China imported a total of 9.
0402 million tons of bauxite, down 6.
41% month-on-month and up 14.
56%
year-on-year.
Spot analysis: On September 24, the spot A00 aluminum quotation was 14300-14340 yuan / ton, the average price was 14320 yuan / ton, and the daily increase was 10 yuan / ton
.
Intraday cargo holders can ship fairly, but still relatively high prices, middlemen are not less willing to receive goods, as far as market traders are concerned, there are more receivers than shippers, and the overall trading of buyers and sellers is active
.
Downstream manufacturers mainly purchase on demand, a small amount of stock, and the receiving status is
acceptable.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 106038 tons on Tuesday, a daily decrease of 2552 tons; On September 23, LME aluminum stocks were 895625 tons, down 2,275 tons
per day.
Main positions: the top 20 long positions of the main 1911 contract of Shanghai aluminum are 72895 lots, minus 226 lots per day, short positions are 83916 lots, daily minus 232 lots, net short positions are 11021 lots, daily minus 6 lots, long and short are reduced, net short is slightly reduced
.
On September 24, the main force of Shanghai aluminum 1911 fell in shock
.
The weakening of the euro boosted the rise of the US dollar, coupled with the intensification of tensions between the United States and Iran, the market risk aversion heated up, downstream due to the recent concentrated arrival and poor demand performance, aluminum rod inventory continued to accumulate, aluminum price performance was weak, but electrolytic aluminum inventory continued to degrade, and the downstream before the holiday has the willingness to stock, forming some support
for aluminum prices.
In terms of spot, intraday holders can ship OK, but still relatively high prices, middlemen are not less willing to receive goods, as far as market traders are concerned, there are more receivers than shippers, downstream manufacturers purchase on demand, a small amount of stock
.
Technically, the 10-day moving average of the main 1911 contract of Shanghai aluminum crosses the 20-day moving average, and the short-term shock is expected to be weak
.
