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Monday is a UK summer bank holiday and the LME is closed for one day
.
The main 1810 contract of Shanghai aluminum opened at 14815 yuan / ton in the morning, and recorded a long black line at the open, touching a high of 14825 yuan / ton, and the price of Shanghai aluminum in the daily stage basically belongs to a high pullback trend
.
Affected by a large number of bulls exiting the market, the opening price went all the way down to 14735 yuan / ton, supported by the 5-day line, Shanghai aluminum recovered slightly before the afternoon, and fluctuated
in a narrow range at 14765 yuan / ton.
Subsequently, the US dollar index rose, and the price of Shanghai aluminum continued to slide, testing the low price of 14725 yuan / ton within the day, and the long and short were evenly matched at the end of the day, and the funds were slightly hesitant
.
The day closed at the small black candle, closing at 14,735 yuan / ton, basically giving up all the gains since Friday
.
In terms of news, the Bureau of Statistics interpreted the profit data of industrial enterprises in the first seven months showed that the profits of industrial enterprises above designated size in the country increased by 17.
1% year-on-year in the first seven months, showing a good development trend of industrial enterprises' efficiency, promoting the rise of the non-ferrous disk within the day, and it is expected that short-term Shanghai aluminum or continue to test the 14800 yuan / ton mark
.
In the spot market, aluminum futures fluctuated downward before noon of the month
.
Shanghai transaction concentration 14640 ~ 14650 yuan / ton, for the month discount 60 ~ 50 yuan / ton, Wuxi transaction concentration 14640 ~ 14650 yuan / ton, Hangzhou transaction concentration 14640 ~ 14660 yuan / ton
.
Stable shipments of cargo holders, general acceptance of middlemen, on-demand procurement of downstream enterprises, 14640~14650 yuan / ton in East China in the afternoon, the overall transaction is general
.
Industry News:
Shortly after GFG acquired the Fort William plant, the company announced plans to produce 2 million aluminium wheels a year, completely replacing a quarter
of the 8 million aluminium wheels imported annually by the British automotive industry.
2.
Focusing on the "secondary entrepreneurship" of aluminum, the county plans to promote the construction
of projects such as Hualei light alloy, 1 million tons of aluminum deep processing of Baikuang Group, 200,000 tons of pre-baked anode carbon in the fourth phase of Qiangqiang, 1 million square meters of aluminum template and 800,000 tons of recycled aluminum and 60,000 tons of aluminum fluoride of Hetai Technology.
Overall, the market is optimistic about the strength of production restrictions in this year's heating season, and Shanghai aluminum stabilized after a weak shock within the day, and the market is currently mainly concerned about the results of the US 200 billion tariff hearing on China, before which the market maintained a cautious wait-and-see
.
