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On Tuesday, the Shanghai aluminum shock strengthened, and the Shanghai aluminum 1905 contract traded at 13590-13735 yuan / ton within the day, closing at 13730 yuan / ton, up 0.
99%
on the day.
Position volume 284890, -816; basis +130, -60
from the previous day.
In the external market, as of 15:45, the 3-month Lun aluminum was reported at $1931.
00 / ton, up 0.
34%
on the day.
In terms of industry, on March 18, the Ministry of Finance released data showing that in the first two months of this year, the national general public budget revenue was 3.
9104 billion yuan, a year-on-year increase of 7%; The national general public budget expenditure was 3,331.
4 billion yuan, a year-on-year increase of 14.
6%.
Tax revenue from the national general public budget revenue was 3,511.
4 billion yuan, a year-on-year increase of 6.
6%; Non-tax revenue was 399 billion yuan, a year-on-year increase of 10.
8%.
In terms of the market, aluminum futures maintained range-bound
volatility before noon of the month.
The transaction price in Shanghai is between 13880-13890 yuan / ton, the premium of the month is around 240-250 yuan / ton, the transaction price is about 90 yuan / ton higher than the previous day, the transaction price in Wuxi is between 13880-13890 yuan / ton, and the transaction price in Hangzhou is between
13890-13910 yuan / ton.
The intraday premium continued to expand, some traders considered that the tax reduction received more goods, and some traders considered that the goods received on the previous day had a profit difference in sales, and shipments were also more active, and the overall trading was very active
.
Due to the impact of tax reduction, the enthusiasm for receiving goods downstream within the day has increased significantly, and procurement is more active
.
The overall transaction in East China was better
.
In terms of stocks, LME aluminum stocks were 1,175,650 tons on March 18, down 7,200 tons from the previous session; As of March 15, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 739,058 tons, down 507 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum volatility strengthened during the day as market sentiment improved
as China's tax policy boosted the manufacturing industry.
However, the current reduction in Shanghai aluminum inventories in the previous period has narrowed, and the declining aluminum production costs may limit the upside of
aluminum prices.
In the spot market, premium continued to expand, some traders considered that there were more tax reductions, and some traders considered that the goods received were sold at a profit difference, and shipments were also more active, and the overall trading was very active
.
On the technical side, the MACD indicator of the Shanghai aluminum 1905 contract rose slightly, the average combination tended to be intertwined, and the short-term upward and downward space of the futures price was not large, and the short-term recommendation was treated with shocks
.
