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Yesterday's Shanghai aluminum performance was strong, hit the 14,000 yuan mark successfully, not affected by the poor domestic economic data, the technical situation shows that the willingness to fall continues to weaken, but in the 14,000 yuan first-line funds began to tend to be cautious, forming a certain pressure
.
Although the production reduction of domestic alumina plants has caused certain benefits, the supply pressure of the aluminum market remains, coupled with the potential Fed interest rate hike expectations, the short-term Shanghai aluminum rebound may be limited, or in the range of 13800-14100 yuan
.
In terms of the market, the willingness of cargo holders to ship at a high is positive, middlemen are looking forward to entering the market at a greater discount, downstream enterprises choose to wait and see, waiting for prices to fall, and the overall transaction shows a high level of wait-and-see
.
Nanchu East China aluminum ingot quotation 13840-13880 yuan, the average price of 13860 yuan, up 10
.
East China today transaction is relatively small, the willingness of holders to ship is enhanced, downstream enthusiasm is not high, Shanghai transaction price is 13850-13870 yuan, compared with the South Reserve East China average price premium -10-10 yuan / ton
.
The transaction price of Wuxi is 13840-13870 yuan, which is a premium of -20-10 yuan / ton
compared with the average price of South China East China.
The price of South China aluminum ingots in South China is 13830-13930 yuan, and the average price is 13880 yuan, up 10 yuan
.
The narrowing of the far month price difference makes the market circulating supply abundant, the arbitrage space under the current current price difference is narrow, the procurement demand is insufficient, and the shipment is difficult, and the market transaction has dropped from 13890 yuan to 13870 yuan, which is a premium of -10~10 yuan
compared with the average price of South China Reserve.
A few days ago, the domestic aluminum market was boosted by the suspension of production of related alumina enterprises and the continuous decline in the high inventory of the five places in the society, and the aluminum price tested the pressure of the Wansi Pass upward, but the overall fundamentals of the market have not changed significantly, and the industry expects that the rebound of aluminum prices will be limited
.
At present, demand in the off-season is weakening, and buyers are still cautious on the
sidelines.
