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On Friday, the main contract of Shanghai aluminum 1805 contract around 14450 yuan / ton wide oscillation, intraday trading at 14355-14560 yuan / ton, the end of the day closed at 14425 yuan / ton, down 0.
24% per day, the performance is still resistant to other base metals, still means that the intrinsic downward momentum of aluminum prices weakened
.
Shanghai aluminum continued the positive arrangement of near-low, far-high, among which the positive price difference between the Shanghai aluminum 1804 contract and the 1805 contract narrowed to 85 yuan / ton
.
In terms of external trading, Asian Lun aluminum fell under pressure, of which 3 months Lun aluminum traded at 2155-2138 US dollars / ton, now closed at 2140 US dollars / ton, down 0.
37% per day, the current Lun aluminum is still running under the main moving average group, showing that the upper selling pressure is heavier, the lower support is concerned about 2100 US dollars / ton, short-term Lun aluminum performance is weaker than Shanghai aluminum, suppressed by the strengthening of the US dollar
.
In the industry, the U.
S.
tariffs on imported aluminum pushed U.
S.
aluminum premiums to their highest level in nearly three years, as U.
S.
aluminum consumers rushed to lock in more supply
before the U.
S.
government imposed a 10% tariff on aluminum products.
In terms of the market, on March 2, Shanghai aluminum Shanghai trading concentrated 14130-14140 yuan / ton, the discount for the month was 150-140 yuan / ton, Wuxi transaction concentration was 14130-14140 yuan / ton, Hangzhou transaction concentration was 14110-14130 yuan / ton
.
Aluminum is rising, spot discount is difficult to shrink, the cargo holder has a positive attitude to shipment, the willingness of middlemen to receive goods without interest rate difference declines rapidly, the consumption recovery speed of downstream enterprises is general, and the overall transaction is average
.
In terms of inventory, the inventory of aluminum warehouse receipts in the previous period was 775592 tons, down 320 tons
from the previous trading day.
As of March 1, LME aluminium ingot stocks were 1322150 tonnes, down 2,325 tonnes
from the previous session.
Industry information, in February 2018, the preliminary value of China's electrolytic aluminum production was 2.
750 million tons, a year-on-year decrease of 3.
1%, and the total output from January to February was 5.
735 million tons, a year-on-year decrease of 2.
4%.
The preliminary value of alumina production in February was 5.
089 million tons, down 1.
9% year-on-year, and the total output from January to February was 10.
800 million tons, an increase of 0.
3%
year-on-year.
During the day, Shanghai aluminum 1805 oscillated to 14425 yuan / ton
.
After the short-term aluminum price continued to fall, it faced the demand for over-falling rebound, but as domestic inventories continued to reach new highs and supply pressure increased, the rebound height of aluminum prices was limited, or it will continue the low oscillation trend
.
It is recommended that the Shanghai aluminum 1804 contract can be sold high and low in the range of 14350-14550 yuan, and the stop loss is 100 yuan / ton
each.
