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Market trend: On April 2, social inventories fell again, and Shanghai aluminum strengthened
.
In the morning, the main force of Shanghai aluminum opened at 13980 yuan / ton, affected by the collective decline of non-ferrous metals at the beginning of the session, Shanghai aluminum touched 13960 yuan / ton, and then after the stabilization of non-ferrous metals, more in and out, the main force of Shanghai aluminum rose, recorded a high of 14125 yuan / ton, and fluctuated at a high level, closing at 14080 yuan / ton
.
Market aspect:
Shanghai transaction concentration 13750 ~ 13810 yuan / ton, the discount for the month 90 ~ 80 yuan / ton, Wuxi transaction concentration 13750 ~ 13810 yuan / ton, Hangzhou transaction concentration 13760 ~ 13780 yuan / ton
.
Holders of goods shipments are reduced, the market circulation of goods is tight, the futures aluminum continues to rise, middlemen and downstream enterprises are very active in receiving goods, spot prices quickly adjust prices with the market, spot supply exceeds demand, Hangzhou area holder prices rose to 13780 yuan / ton for sale, basically no shipment
.
The overall transaction was good, showing a seller's market
.
Guangdong market transaction followed the price all the way, the first half concentrated in 13830 ~ 13860 yuan / ton, the second half of the holder quotation is more chaotic, 13870 ~ 13890 there are transactions, Guangdong and Shanghai price difference expanded to around
100 yuan / ton.
On the whole, the willingness of cargo holders to ship is not strong, the market has a limited supply of circulating goods, and the middlemen are active in receiving goods, and the downstream capital tension in the new January has eased compared with last week, so the willingness to receive goods is also strong
.
In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 820562 tons, down 1776 tons
from the previous trading day.
In terms of social stocks, SMM's social stocks were 2.
227 million tons, down 16,000 tons
from March 29.
As of March 29, LME aluminum ingot stocks were 1,286,300 tons, up 24,675 tons
from the previous trading day.
On the whole, the current inventory continues to refresh the historical high and there is new production capacity, so that aluminum prices are under pressure and demand is gradually picking up, favorable policies are coming out again, and aluminum prices may be supported
.
Technically, the daily K-line broke through the 10-day moving average, the MACD indicator indicator appeared at the low level of the golden cross, it is expected that the Shanghai aluminum shock is strong, the operating range is 13800-14300, for reference
only.
