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On Monday, the main contract of Shanghai aluminum 1806 fluctuated around 14200 yuan / ton, trading at 14375-14140 yuan / ton during the day, and closing at 14270 yuan / ton at the end of the day, up 1.
49% on the day, hitting a new high in nearly a month, and performing far better than other base metals
.
Shanghai aluminum continued the positive arrangement of near low and far high, of which the positive price difference between Shanghai aluminum 1805 contract and 1806 contract remained at 70 yuan / ton
.
In terms of external trading, Asian market aluminum rose strongly, including 3-month LME aluminum at 2105 US dollars / ton, up 2.
48% per day, for three consecutive days, hitting a nearly one-month high, because Russian aluminum may be subject to US sanctions to tighten the supply of external aluminum market, while the US spot aluminum premium rose, Lun aluminum above the rebound resistance to focus on 2150 US dollars / ton
.
In terms of the market, on April 9, Shanghai aluminum trading concentrated 14060-14070 yuan / ton, the discount for the current month was 70-60 yuan / ton, and the next month discount was 60-40 yuan / ton
.
Wuxi transaction concentration is 14060-14070 yuan / ton, Hangzhou transaction concentration is 14060-14070 yuan / ton
.
Cargo holders have increased their shipment efforts compared with before the holiday, middlemen have weakened due to the phenomenon of tax rate hoarding, and the detailed rules show that traders also enjoy preferential tax reductions, and downstream enterprises do not accept prices that rise too fast, only purchase according to just needs, and the overall transaction is slightly worse
.
In terms of industry, following the World Trade Organization (WTO) lawsuit against the United States for Section 301 tax proposals, China issued another move in the WTO: on April 5, China submitted a request for consultation to the United States under the WTO dispute settlement mechanism on US imports of steel and aluminum products232 measures, officially initiating dispute settlement procedures
.
Market News:
Harbor Intelligence said in a report that tariffs on imports of aluminum originating in China are reaching a point where U.
S.
consumers are scrambling to find supplies after announcements of potential Section 301 tariffs
.
2.
On April 5, China formally initiated dispute settlement procedures
by submitting a request for consultation to the US side under the WTO dispute settlement mechanism on the US import of steel and aluminum products232 measures.
The head of the Department of Treaty and Law of the Ministry of Commerce made a statement
on this.
During the day, Shanghai aluminum 1806 oscillation rose to 14270 yuan / ton, the performance was stronger than other base metals, due to the recent domestic aluminum social inventory began to decrease, later need to pay attention to the sustainability of inventory reduction, while Rusal may be subject to US sanctions to tighten the supply of external aluminum supply, stimulating Lun aluminum higher
.
Operationally, it is recommended that the Shanghai aluminum 1806 contract can be backed above 14150 yuan to bargain more, enter the market reference around 14200 yuan, and target attention to 14350 yuan
.
