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On Thursday, the main monthly 1812 contract of Shanghai aluminum opened at 14230 yuan, the intraday high of 14270 yuan and the low of 14150 yuan, and closed at 14255 at the end, up 25 yuan / ton
from the previous trading day.
The performance of the consumer side is weak, the aluminum market is slow to inventory, the upward space of aluminum prices is limited, Shanghai aluminum rose slightly during the day, and the market continued to maintain volatility
.
Abroad, the decline in global stock markets weighed on investor confidence, the nonferrous metal market fell under pressure, intraday aluminum fell slightly, and the support below focused on $
1900.
At 15:44 Beijing time, the LME 3-month aluminum was $1,999, down $5 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 14130-14170 yuan / ton, down 50 yuan / ton; Guangdong South Reserve reported 14140-14240 yuan / ton, down 30 yuan / ton; Hua reported 14230-14250 yuan / ton, down 50 yuan / ton; The average domestic spot trading price is between
14120-14160 yuan / ton.
Intraday aluminum fell slightly, cargo holders shipped generally, downstream enterprises maintained on-demand procurement, and market transactions were weak
.
Industry News:
1.
Norwegian aluminum company Hydro said in its third-quarter performance report that due to lower than expected supply growth, there will be a shortage in the global aluminum market in 2018, and the shortage is higher than previously expected
.
”
2.
Qatar Aluminium (Qatulum) performance report shows that the company's revenue in the first half of the year increased by 10.
72% year-on-year to 740,000 US dollars
.
Asia, the Middle East and North Africa accounted for 57%
of revenue.
According to the prospectus of its initial public offering (IPO), profit before interest, taxes, depreciation and amortization (Ebitda) was $280,000 as of June 30, 2018, and the Ebitda margin was 39%.
Due to the high cost, the loss of electrolytic aluminum plant has reduced production, which supports the price, and the main contract of Shanghai aluminum rose rapidly after testing low in the morning, and the center of gravity moved slightly up in the afternoon, closing at 14255 yuan / ton at the end, up 25%, or 0.
18%, from the previous trading day; It was announced that the inventory of electrolytic aluminum fell by another 45,000 tons, which is good for aluminum prices, but the rebound space is still limited, and it is expected that Shanghai aluminum will still be difficult to get rid of the early shock range
.
