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Base metals were mixed on Thursday, with bearish sentiment rising slightly, indicating cautious
bullish trading.
Among them, Shanghai aluminum oscillation rose slightly, trading at 14585-14490 yuan / ton during the day, up slightly by 0.
52% per day, and Shanghai aluminum is still running in the low oscillation range of a week
.
In the external market, as of 15:58 Beijing time, the 3-month Lun aluminum was reported at 2038 US dollars / ton, up 0.
39% per day, and the upper rebound resistance focused on 2100 US dollars / ton
.
In terms of spot, Shanghai trading concentration is 14530-14550 yuan / ton, the discount for the month is 20-10 yuan / ton, Wuxi transaction concentration is 14530-14550 yuan / ton, Hangzhou transaction concentration is 14550-14570 yuan / ton
.
The fluctuation of the plate is small, and the cargo holders are actively shipped, so that the spot transaction price is moved down, and the downstream enterprises have non-ferrous stocks in the Mid-Autumn Festival, and the supply and demand increase are larger than the demand, and the overall transaction prosperity is average
.
On the news, the Asian dollar index continued to fall under pressure, indicating heavier selling pressure above, now trading around 94.
3, the second consecutive week of decline, as Sino-US trade escalation concerns slowed and market risk aversion fell
.
At the same time, the short-term market lacks focus, and long and short trading tends to be cautious
.
In terms of industry, data from the World Bureau of Metal Statistics (WBMS) showed that the global aluminum market had a supply shortage of 302,000 tons from January to July 2018, compared with 913,000 tons in the same period last year, and the supply gap narrowed by 611,000 tons year-on-year, as demand slowed higher than production
.
The demand for primary aluminum from January to July was 35 million tons, down 758,000 tons year-on-year, and the primary aluminum output from January to July was 34.
698 million tons, down 147,000 tons
year-on-year.
In China, the apparent demand for primary aluminum from January to July decreased by 1.
1% year-on-year, which was slightly lower than the 2.
1%
decrease in global primary aluminum demand.
Overall, Shanghai aluminum continued to oscillate at a low level, the performance was much weaker than Shanghai zinc, because the previous performance of Shanghai aluminum was relatively resistant, so its technical rebound space was not as good as copper and zinc, and the market expected that the United States was expected to relax sanctions against Rusal, so aluminum prices rose weakly
.
Operationally, it is recommended that the Shanghai aluminum 1811 contract can be sold high and low between 14500-14650 yuan / ton, and the stop loss is 100 yuan / ton
each.
