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On Monday, the main contract of Shanghai aluminum 1805 contract wide oscillation, intraday trading at 14130-13910 yuan / ton, the end of the close at 13960 yuan / ton, for the fourth consecutive day into low oscillation, up to now Shanghai aluminum has fallen for two and a half months, more than 10% from the end of December last year, the performance is far weaker than other base metals
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between Shanghai aluminum 1804 contract and 1805 contract narrowed to 90 yuan / ton
.
In terms of the external market, the Asian market Lun aluminum oscillation continued to fall, showing that the upper rebound was blocked, of which 3 months Lun aluminum traded at 2084-2072 US dollars / ton, now closed at 2075 US dollars / ton, down 0.
38% per day, the current Lun aluminum fell into a low oscillation finishing, the lower support focus on 2050 US dollars / ton
.
In terms of the market, on March 19, the Shanghai transaction concentration was 13730-13740 yuan / ton, the discount for the month was 130-100 yuan / ton, the Wuxi transaction concentration was 13730-13740 yuan / ton, and the Hangzhou transaction concentration was 13720-13750 yuan / ton.
Social inventory increased slightly by 2,000 tons, coupled with the immediate recovery after the aluminum dip, the willingness of the holders to raise the price is strong, the price has not been adjusted with the plate, the middleman is looking for a low-price source, the willingness to receive goods is general, the downstream enterprises receive goods normally, no signs of a large number of purchases have been found, the overall transaction is general, and the price is relatively firm
.
In terms of inventory, during the day, the inventory of aluminum warehouse receipts in the previous period was 806354 tons, an increase of 773 tons
over the previous trading day.
As of March 19, LME aluminum ingot stocks were 1,293,900 tons, down 12,250 tons
from the previous trading day.
Industry news, it is reported that Shanxi bauxite began to rectify bauxite in March, it is expected that the rectification time is three months, it is understood that there has been a bauxite began to shut down, and the price of bauxite is currently understood from the alumina plant procurement, bauxite has not yet increased the price, because the price of this month was set at the beginning of the month, but the supply impact will be affected
.
During the day, Shanghai aluminum 1805 oscillation sorted out to 13960 yuan / ton, has not returned to the Wansi mark, as domestic inventories continue to hit new highs, supply pressure increases, aluminum price rebound height is limited
.
However, after the price of aluminum continues to fall, it is necessary to be vigilant against the demand for technical rebound, especially Shanghai aluminum near the 14,000 yuan / ton mark, the trend has been repeated
.
It is recommended that the Shanghai aluminum 1805 contract can sell high and low in the range of 13900-14100 yuan / ton, and the stop loss is 80 yuan / ton
each.
