Shanghai aluminum volatility rose slightly, and the overall transaction of the market was average

In terms of the industry, according to foreign power news on March 11, four sources directly involved in pricing negotiations said on Monday that some Japanese importers agreed to finalize the imported aluminum premium in the second quarter at $105 per ton, reflecting the current situation
of rising domestic spot premium.
This is the first upward revision in three quarters and is 24%-27%
higher than the $83-85 per tonne in the current quarter.
Producers initially hoped for aluminum premiums of $109-112 per tonne
.

In terms of the market, the transaction price in Shanghai is between 13660-13680 yuan / ton, the discount for the month is between 40-30 yuan / ton, the transaction price is more than 60 yuan / ton compared with the previous day, the transaction price in Wuxi is between 13660-13680 yuan / ton, and the transaction price in Hangzhou is between
13660-13680 yuan / ton.
During the day, Chinalco did not purchase in East China, the market supply was sufficient, and the carrier shipped very actively, but because the market bid was slightly higher after ten o'clock, the actual transaction price was nearly 20 yuan / ton inverted compared with the South China market, and it was difficult for the receiver to recognize the price, and the willingness to receive goods was reduced
.
Due to the obvious increase in prices compared with the previous day, the downstream has a wait-and-see attitude towards prices, the willingness to purchase is not high, and the receipt of goods is flat
.
The overall transaction in East China within the day is average
.

Warehouse receipt inventory: warehouse receipt 537853, -502; on March 11, LME aluminum inventory was 1,213,125 tons, down 8,250 tons from the previous session; As of March 08, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 739,565 tons, down 7,447 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

Main positions: the top 20 long positions of Shanghai-aluminum 1905 contract 100537, +576; short positions 122697, +1501; mainstream long and short positions both increased, of which the short increase was more obvious
.

Shanghai aluminum volatility rose slightly during the day, as the performance of the US dollar index fell under pressure, coupled with the decline in domestic aluminum inventories, supporting the recovery of aluminum prices, but the sharp decline in automobile production and sales in February year-on-year also shadowed the outlook for aluminum demand in the future market
.
In the spot market, because the price has increased significantly compared with yesterday, the downstream has a wait-and-see attitude towards the price, the willingness to purchase is not high, the receipt of goods within the day is flat, and the overall transaction of the market is average
.
Technically, the Shanghai aluminum 1905 contract is still under pressure below the middle band of the Bollinger band, but the opening of the Bollinger band is tightening, and the short-term aluminum price may be in an adjustment situation
.
Operationally, it is suggested that the Shanghai aluminum 1905 contract can consider selling high and low between 13400-13600 yuan / ton, and the stop loss is 100 yuan / ton
each.