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Yesterday, Shanghai aluminum opened at 12415 yuan / ton, slightly fluctuated after the opening, half an hour before the morning market closed long concentrated position, the price fell, continued to fall to 12280 yuan / ton in the afternoon, and then fluctuated sideways, and finally closed at 12270 yuan / ton
.
The night session opened at 12305 yuan / ton, fell slightly and then fluctuated higher, closing at 12380 yuan / ton
.
In the external market, the Fed's senior officials' interest rate hike remarks boosted the US dollar index to rebound and put pressure, Lun aluminum fell under pressure, the center of gravity fell during the Asian session, and it reversed during the European session, and the wide range fluctuated higher, closing at 1556.
5 US dollars / ton
.
On the macro front, Eurozone CPI in April was 0.
0% month-on-month, 0.
0% expected, and 1.
2% in the previous month; YoY, final value -0.
2%, expected -0.
2
%.
The New York Fed said in a statement on the 17th that it will launch a public sale of small-scale government bonds on May 24, with a face value of no more than $250 million
.
The market sees this as a tentative reduction of the Fed's balance sheet, tightening liquidity in disguise, and at the same time affecting market expectations
.
Domestically, data from the Energy Bureau showed that the electricity consumption of the whole society in April was 456.
9 billion kilowatt-hours, an increase of 1.
9% year-on-year, and from January to April, the total electricity consumption of the whole society was 1,809.
3 billion kilowatt-hours, an increase of 2.
9%
year-on-year.
Among them, the electricity consumption of the secondary industry was 1,259.
5 billion kWh, an increase of 0.
2%.
In terms of the market, as the futures price declines, the spot price declines, the middleman receives the goods actively, and the low-price source transactions are more; Holders in South China cut prices to sell, but the downstream response was flat
.
The price of Nanchu East China aluminum ingots was 12500-12540 yuan, with an average price of 12520 yuan, up 90 yuan
from the previous trading day.
Nanchu aluminum ingots were quoted at 12,780-12,880 yuan, with an average price of 12,830 yuan, up 30 yuan
from the previous trading day.
Alumina prices continued to remain unchanged
yesterday.
To sum up, the main contract of Shanghai aluminum stopped for two consecutive days, and the price was sorted
out at the 30-day moving average.
Demand at the spot end is tepid, and the attitude of cargo holders to support prices has softened
.
In the short term, maintain the judgment of Shanghai aluminum shock sorting, and it is recommended to wait and see
for the time being.
