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Today's Shanghai aluminum main month 2109 contract, opening 19805 yuan / ton, the highest intraday 20180 yuan / ton, the lowest 19650 yuan / ton, settlement 20040 yuan / ton, the end of the close to 20110 yuan / ton, up 70 yuan
.
Today's Shanghai aluminum shock rebounded, northwest aluminum ingots have a backlog, and the current consumption off-season effect still exists, but aluminum supply side disturbances continue, and low inventories give effective support to aluminum prices, short-term aluminum prices are relatively under pressure
.
Today's London aluminum is on the strong side, LME three-month Beijing time at 15:01 at 2569 US dollars / ton, up 25 US dollars, or 0.
96%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 20080-20120 yuan / ton, up 10 yuan; Guangdong South Reserve reported 20240-20300 yuan / ton, down 10 yuan; China reported 20130-20170 yuan / ton, up 70 yuan
.
The sentiment of the holders is obvious, the downstream demand is gradually warming, the receiving party is bullish and the inquiry is active, the transaction is more active, and the overall transaction is better
.
In terms of inventory, the latest LME aluminum inventory was 1.
3097 million tons, down 5425 tons from the previous trading day, and the aluminum warehouse receipt of the previous period was 91,541 tons, down 473 tons
from the previous trading day.
Against the background of continued macro weakness, non-ferrous metals continued to decline under the leadership of copper
.
The recent Shanghai aluminum price correction is large, and Thursday's social inventory rose by 02,000 tons from last Thursday, and the market rumors that the country will not sell reserves in August, which may further amplify
the subsequent supply gap.
Under the off-season in July and August, it is expected that domestic inventories will return to historical lows in September and October
.
This makes it possible that in the next 4-5 months, there will be a pattern of demand recovery and supply will continue to be limited
.
However, it is necessary to pay attention to the pressure brought by the macro level to non-ferrous metals, so aluminum prices are expected to remain strong under the influence of power cuts in August, and later reach new highs with the continuous decline of social inventories.
