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Today's Shanghai aluminum main month 2008 contract opened at 14045 yuan / ton, the highest intraday 14165 yuan / ton, the lowest 13945 yuan / ton, settled 14050 yuan / ton, and closed at 14150 yuan / ton, up 35 yuan
.
Today's Shanghai aluminum shock rebounded, aluminum exports are relatively restricted, inventory dematerialization has slowed down significantly, and there is pressure
above aluminum prices.
In terms of external trading, today's Lun aluminum opened low and high, LME three-month aluminum Beijing time at 15:00 at 1641 US dollars / ton, up 6 US dollars, or 0.
37%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 14300-14340 yuan / ton, down 100 yuan; Guangdong South Reserve reported 14270-14330 yuan / ton, down 170 yuan; Hua reported 14410-14430 yuan / ton, down 100 yuan
.
Cargo holders showed hesitation, middlemen received goods enthusiastically, downstream on-demand receiving was the mainstay, the signs of stocking were not obvious, and the overall transaction was average
.
Industry news, according to statistics, China's domestic bauxite consumption in June 2020 was about 6.
38 million tons, an increase of 5.
99% month-on-month and a year-on-year decrease of 12.
55%; From January to June, bauxite consumption totaled about 36.
1 million tons, down 23.
42%
from the same period last year.
On the supply side, more aluminum companies have joined the ranks of resumption of production, and the long-term supply is relatively sufficient, and the pressure is not reduced, but the short-term supply increment is limited
.
In terms of demand, the processing link began to show fatigue in July, except for profiles, the operating rate of the rest of the processing sectors declined, basically in line with the seasonal off-season
.
Although the social stock of aluminum ingots is still declining, the decline rate is only 04,000 tons, and the inflection point is approaching
in the short term.
On the cost side, the price of alumina is affected by the production reduction of northern alumina enterprises, and the short-term increase is obvious
.
On the whole, under the expectation of increasing supply and weakening demand, aluminum prices adjust demand, but low inventory and cost support, it is expected that the adjustment space is limited, and strategically, it is recommended to wait and see
for the time being.
