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Trade Service
On Wednesday, the Shanghai aluminum main 1805 contract fluctuated in a narrow and weak range, closing at 14010 yuan, down 0.
28%.
The trading volume of the Shanghai Aluminum Index increased by 14,014 lots to 451,000, and the position decreased by 7,550 lots to 772,000
.
The top 20 domestic long positions in the Shanghai aluminum 1805 contract reduced their holdings by 2835 lots to 82308 lots; The top 20 domestic positions were shorts reduced by 1365 lots to 97358 lots
.
In terms of spot, Shanghai transaction concentration is 13970~13980 yuan / ton, the discount for the month is 40~30 yuan / ton, Wuxi transaction concentration is 13970~13980 yuan / ton, Hangzhou transaction concentration is 13980~14000 yuan / ton
.
On the last day before the Qingming holiday, the spot discount was almost flat, the enthusiasm of cargo holders increased, the enthusiasm of traders to receive goods declined, the holiday stocking of downstream enterprises has basically ended, and the overall transaction has fallen
compared with yesterday.
Inventory, as of April 4, the inventory of Shanghai aluminum ingot market was 446,000 tons, the inventory of Wuxi aluminum ingot market was 901,000 tons, and the inventory of Nanhai aluminum ingot market was 425,000 tons, and the inventory of the three places remained stable
compared with last week.
Domestic aluminum ingot inventories have declined for two consecutive weeks, supply pressure has eased, and downstream users and middlemen are relatively positive in receiving goods, but overall, aluminum market inventories are still at a high level, which may suppress the aluminum price rebound space, so even if the short-term aluminum price rebound, the space will be relatively limited
.
The Sino-US trade war has heated up again, but it has caused a significant setback to the financial market, and the bearish is gradually released; The downward movement of the US dollar affects the trend of metals
.
In addition, before the Qingming Festival holiday, market trading was light, investors partially left the market early, and the main contract of Shanghai base metals closed down
across the board.
After the holiday, the market forecast, trade war regeneration incident, aluminum prices may rise limited, Lun aluminum tried to return to the 2000 mark support without results, intraday hit a new low in nearly 8 months, next week is expected to continue to come under pressure, below focus on the 1950 mark support; Shanghai aluminum or limited gains, maintaining range-bound markets, 1.
36-14,000 range fluctuations; There are uncertainties in the trade war, and it is recommended that spot traders can ship in appropriate quantities to control risks
.
