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Trade Service
Yesterday, the main force of Shanghai aluminum opened at 12275 yuan / ton, and the price quickly climbed about 100 yuan / ton after the opening and then pulled back, and then fluctuated
widely.
In the afternoon, the price was gradually moved higher under the guidance of the black series' sharp rise, touching 12540 yuan / ton at a high level, and then rebounded to close at 12400 yuan / ton after a sharp correction of more than 200 yuan / ton
.
After the opening of the night, the upward impact, then the bulls concentrated on liquidation, the price fell more than 200 yuan / ton to below 12300 yuan / ton, then rose 400 yuan / ton, the high touched 11675 yuan / ton hit a new high since July 6 last year, and then sorted out slightly, and finally closed at 11585 yuan / ton
.
On the macro front, the ECB said it would maintain the main refinancing rate at 0%, the overnight deposit rate at -0.
4%, the overnight loan rate at 0.
25%, and the monthly QE scale at 80 billion euros, with all key indicators remaining unchanged
.
The president said interest rates would remain at current or lower levels for some time to come, and hinted that the ECB would implement stimulus measures if necessary
.
The euro's easy monetary environment continued, and the euro fell rapidly against the dollar
.
UK retail sales in March were 2.
7% y/y vs.
4.
4% expected vs.
3.
6% prior; -1.
3% m/m, the lowest since January 2014, -0.
1% expected vs.
-0.
5%
prior.
In terms of the market, the spot trading price of Yangtze River on April 21 was 12200-12240 yuan / ton, up 140 yuan / ton; Guangdong South Reserve reported 12270-12370 yuan / ton, up 160 yuan / ton; Hua reported 12310-12330 yuan / ton, up 140 yuan / ton; The average domestic spot trading price is between
12220-12260 yuan / ton.
Aluminum continued to rise on the same day, holders controlled shipments, middlemen were willing to replenish goods, downstream stocked in advance over the weekend, and the overall transaction was active
.
To sum up, yesterday's Shanghai aluminum night trading fluctuations of more than 400 yuan / ton
.
Commodity market volatility in recent days, black series out of the extreme market has a certain spillover effect on non-ferrous metals, investors can not blindly chase long, short-term macro positive to stimulate aluminum prices to rise, it is expected that aluminum prices temporarily maintain strong
shocks.
