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On Wednesday, the main contract of Shanghai aluminum 1807 rushed back down, the operating range was 14760-14655 yuan / ton, and the end of the day closed at 14685 yuan / ton, down 0.
03% from the previous trading day's closing price, and the Shanghai aluminum daily closing price hit the lowest point since May 2 this year
.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, among which the positive price difference between the Shanghai aluminum 1807 contract and the 1808 contract widened to 85 yuan / ton
.
As of 15:45 Beijing time, the 3-month LME aluminum reported 2251 US dollars / ton, down 0.
42% per day, at present, Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range focus on 2230-2300 US dollars / ton
.
In terms of the market, on May 23, Shanghai aluminum trading concentrated 14490-14500 yuan / ton, the discount for the month was 80-70 yuan / ton, Wuxi transaction concentrated 14490-14500 yuan / ton, Hangzhou transaction concentrated 14500-14520 yuan / ton
。 In the early stage of the transaction, the market transaction price was concentrated at 14470-14480 yuan / ton, and the later market rose, the spot price followed, and the cargo attitude of the holders was still positive, but the spot discount showed no signs of expansion, the trade between middlemen was more frequent than the previous day, the spot price fell sharply, the wait-and-see sentiment of downstream enterprises grew, and the overall transaction fell slightly compared with yesterday
.
In terms of industries, China's imports of scrap aluminum in April were 130,000 tons, down 27.
8% month-on-month and 23.
1% year-on-year, with monthly imports hitting the second lowest level since February 2016 (only 119737 tonnes of scrap aluminum in February 2018), as China imposed a 25% import tariff
on scrap imported from the United States since April 2.
The cumulative amount of scrap aluminum imports from January to April this year was 620,000 tons, down 11.
4%
year-on-year.
Overall, the main high of Shanghai aluminum fell back to continue the recent decline, the end of the closing slightly narrowed the decline, because the dollar index is still strong to suppress aluminum prices upward, the current aluminum price center of gravity is stable, downstream destocking is still continuing, macro market sentiment eased, the support below is more stable, aluminum prices are obviously resistant, it is expected that Shanghai aluminum will continue to be strong shock, the overall decline is limited
.
