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Market review, the main contract of Shanghai aluminum rushed back down on Monday, and the Shanghai aluminum 1906 contract traded at 13855-13925 yuan / ton within the day, closing at 13875 yuan / ton, up 0.
14%
on the day.
In the external market, as of 15:35, the three-month Lun aluminum was reported at 1865.
50 US dollars / ton, up 0.
08%
on the day.
In terms of industry, according to foreign power news on April 15, Marubeni Shoji released data on Monday showed that the aluminum inventory held by Japan's three major ports at the end of March fell 7.
4% from the previous month to 295,900 tons
.
Marubeni collected data from the ports
of Yokohama, Nagoya and Osaka.
In terms of the market, the first trading stage of the month was mainly range-bound, and the second trading stage pulled up
.
The first trading stage of the market transaction price is between 13830-13840 yuan / ton, and then the aluminum price rises, the spot price Shanghai transaction price began to concentrate between 13850-13860 yuan / ton, the flat water of the month to 10 yuan / ton, an increase of more than 20 yuan / ton from the previous day, Wuxi transaction price between 13850-13860 yuan / ton, Hangzhou transaction price between 13850-13870 yuan / ton
.
The intraday market is more abundant, but the monthly difference has widened slightly due to the approaching delivery date, and traders have significantly increased compared with last week, and trading with each other is active
.
The downstream is still dominated by on-demand procurement, and the receipt of goods is flat
.
In terms of inventories, LME aluminum stocks were 1,081,975 tonnes on April 12, down 4,100 tonnes from the previous session; As of April 12, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 701,138 tons, down 20,954 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
The main contract of Shanghai aluminum fell after a slight surge during the day, and the decline in domestic inventories supported the short-term strengthening of aluminum prices, but aluminum fundamentals are still relatively weak, and its continued upside is limited
.
In the spot market, traders received goods significantly more than last week, and trading with each other was active
.
The downstream is still dominated by on-demand procurement, the receipt of goods is flat, and the overall transaction is
acceptable.
On the technical side, the overall performance of the Shanghai-aluminum 1906 contract has been volatile in the near future, and the MACD indicator shows a top divergence trend, and the upper 14,000 yuan / ton is the key resistance level
in the near future.
