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On Monday, the main contract of Shanghai aluminum 1809 fluctuated in a narrow range around 14400 yuan / ton, trading in the range of 14455-14350 yuan / ton, and closed at 14395 yuan / ton at the end of the day, up slightly by 0.
03% on a daily basis, and the market bearish atmosphere rose
.
In terms of external trading, Asia Lun aluminum continued to oscillate at a low level, of which as of 15:57 Beijing time, the 3-month LME aluminum was reported at 2028 US dollars / ton, up slightly by 0.
05% per day, and the current Lun aluminum chose to run downward, showing the temporary advantage of bears, and the upper rebound resistance focused on 2060 US dollars / ton
.
In terms of the market, on August 6, Shanghai aluminum trading concentrated 14280-14290 yuan / ton, the discount for the month was 50-40 yuan / ton, Wuxi transaction concentration was 14280-14290 yuan / ton, Hangzhou transaction concentration was 14290-14310 yuan / ton
.
Holders ship stably, but sell at a high price, spot discounts maintain stability, middlemen and downstream enterprises purchase stably, and the overall transaction maintains stability
.
On the macro front, although the Fed's July non-farm payrolls data fell short of expectations, the Asian dollar index extended its rally and is now trading around 95.
27, close to the high of 95.
652
set on July 19 this year.
In addition, China retaliated on Friday, imposing tariffs of up to 25% on 5,207 U.
S.
tariff lines, further escalating
the Sino-US trade war.
In terms of information, on August 5, Shandong Zouping Aluminum completed the operation of 60,000 tons of electrolytic aluminum production capacity power and production stoppage, so far, the company's original 140,000 tons of electrolytic aluminum production capacity has been completely stopped, will withdraw from the electrolytic aluminum market
.
Previously, Shandong Innovation Group had purchased the company's 140,000 tons of electrolytic aluminum indicators and replaced them with Inner Mongolia Chuangyuan Metal Co.
, Ltd.
During the day, Shanghai aluminum 1809 oscillated to 14395 yuan / ton, because the market hopes that the new production capacity of electrolytic aluminum and alumina during the 2018-2019 heating season was limited, and the momentum of aluminum price upward remained
.
At the same time, the recent domestic aluminum social inventory continued to decrease, which is still conducive to the rebound
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be backed above 14220 yuan to bargain more, the entry reference is around 14350 yuan, and the target is 14500 yuan / ton
.
