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Trade Service
Market review, on Monday, Shanghai aluminum volatility weakened, Shanghai aluminum 1905 contract traded at 13620-13755 yuan / ton, closed at 13645 yuan / ton, down 0.
73%
on the day.
In the external market, as of 15:35, the 3-month Lun aluminum was reported at 1896.
50 US dollars / ton, down 0.
32%
on the day.
In terms of industries, data released by the General Administration of Customs on Saturday showed that China's scrap aluminum imports fell 33.
3% month-on-month to 80,000 tons
in February.
Alumina imports in February fell 37.
5% to 50,000 tons from 80,000 tons in January; Exports plunged 97.
6% to 3,443 tonnes from 142,864 tonnes in January, with China becoming a net importer of alumina for the first time since April 2018
.
In terms of the market, the performance of aluminum in the early stage of the month was range-bound, and the second trading stage fell rapidly at the end of the day
.
The transaction price in Shanghai is between 13950-13970 yuan / ton, the premium of the month is around 320-340 yuan / ton, the transaction price is nearly 60 yuan / ton lower than the previous day, the transaction price in Wuxi is between 13950-13970 yuan / ton, and the transaction price in Hangzhou is between
13990-14010 yuan / ton.
The price of aluminum in the intraday period fell significantly, and the premium expanded to around 330 yuan / ton, and the market supply was relatively sufficient
.
The morning premium was above 330 yuan / ton, with the obvious increase in the willingness of cargo holders to ship, the premium sank slightly, and the transaction between traders was more active, but the number of receivers decreased
significantly compared with previous days.
The willingness to receive goods downstream is acceptable, and the on-demand purchasing posture
is basically shown on Monday.
The overall transaction in East China was acceptable
during the day.
In terms of inventories, LME aluminum stocks were 1,160,275 tons on March 22, down 5,825 tons from the previous session; As of March 22, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange stood at 741,757 tons, an increase of 2,699 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
The Shanghai aluminum shock weakened during the day, as the dollar index strengthened, and a series of PMI data in Europe and the United States performed poorly, all less than expected, the market's recession fears intensified, base metals generally fell, aluminum prices fell further
.
In the spot market, with the significant increase in the willingness of cargo holders to ship, the premium has sunk slightly, and the transaction between traders has been more active, but the number of receivers has decreased
significantly compared with previous days.
The willingness to receive goods downstream is acceptable, and the on-demand purchasing posture
is basically shown on Monday.
On the technical side, the Shanghai aluminum 1905 contract fell back below the middle band of the Bollinger band, the MACD indicator red column narrowed, and the short-term Shanghai aluminum bull power shrank.
