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On Monday, the main 1805 contract of Shanghai aluminum immediately fell to 13660 yuan after the morning open, and then bottomed out, and ran in a narrow range in the afternoon, closing at 13715 yuan, down 75 yuan, or 0.
54%.
Index holdings decreased by 10,894 lots to 778,000 lots, and trading volume decreased significantly to 349,000 lots
.
Externally, the LME aluminum March contract opened slightly higher at $2,056 in the morning before the price fluctuated and fell, closing at a low of $2,049.
5, down $4.
5, or 0.
22%.
In terms of market, the spot trading price of Yangtze River was 13530-13570 yuan / ton, unchanged; Guangdong South Reserve reported 13530-13630 yuan / ton, down 20 yuan / ton; Hua reported 13630-13650 yuan / ton, down 30 yuan / ton; The average domestic spot trading price is between
13530-13570 yuan / ton.
Aluminum stabilized within the day, the willingness of holders to ship was not high, the performance of middlemen and downstream enterprises was acceptable, and the market transaction improved
.
Industry News:
1.
Shandong Weiqiao electrolytic aluminum environmental protection production limit caused a storm, but did not cause a shortage of market supply "Since the start of environmental protection production restriction, the current production capacity of electrolytic aluminum has been affected by about 1 million tons, but it has not caused a shortage
of market supply.
2.
Recently, Sino-US trade frictions have been raging, and the trade war is about to start in an all-round way
.
According to CICC.
com, the two sides seem to have little movement over the weekend, and the market interprets this as a trade war for both sides to watch the market before deciding whether to take further measures
.
Overall, the Sino-US trade war continues to escalate to suppress the global stock market and may weaken metal demand, market sentiment is dominated by bearish, metal prices are under pressure and continue to fall, short-term heating season postponed resumption of work is coming, domestic electrolytic aluminum will show an oversupply situation, aluminum market above the rebound space is not much, it is expected that aluminum prices will still weaken, short-term easy to fall and difficult to rise
.
Technically, the main KDJ dead fork and MACD dead cross of Shanghai aluminum, the price may seek support at 13,500 yuan, and the market can be dominated
by high short operation.
