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This week, the Shanghai aluminum index rushed to a high of 14,150 yuan at the beginning of the week and then came under pressure and fluctuated in a narrow range, and the price broke sharply to 13,690 yuan
on Friday.
The week closed at 13,810 yuan, down 165 yuan, or 1.
18%.
Index holdings increased by 18,966 contracts to 789,000 lots
.
In terms of external trading, LME aluminum fluctuated in a wide range at the beginning of the March week, the price once rushed up to $2105.
5 and then fell, and the price opened low to a low of $2063 at the end of the week, down $17.
5, or 0.
84%
for the week.
In terms of the market, the main trading range of spot aluminum is 13550-13810 yuan / ton, and the discount is reported at C160-C80 yuan / ton
.
This week, the spot market has basically resumed normal trading, trading is mostly traders arbitrage and value preservation, middlemen are more willing to receive goods, the overall trading is acceptable, Thursday trading is more active
.
On Friday morning, aluminum prices broke downward, middlemen received goods positively, helpless holders to sell mentality to reduce shipments, market flow is not much, the overall trading is general
.
In terms of news, in response to the US tariff measures against China, China's Ministry of Commerce responded by suspending the list of concessions related to US exports to China of about $3 billion
.
The official outbreak of the Sino-US trade war triggered market panic, and the LME base metals extended its overnight decline at the open
.
Overall, the sudden trade war between China and the United States has aggravated the market panic, the weakening of non-ferrous metals has driven the price of aluminum to break the run, aluminum inventories are still slowly rising, although the resumption of work after the end of the heating season production restriction is postponed, but the supply is still facing greater pressure, short-term easy to fall and difficult to rise, the aluminum market may continue to face the risk
of pullback.
Zhou K on the Shanghai aluminum index KDJ dead cross, MACD dead cross, the price broke downward; On the daily K, MACD dead cross, KDJ dead cross, the moving average shows a bearish trend, short-term price broke a new low after temporarily looking at the support at 13500 yuan, the overall trend is still weak
.
