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Market review: On April 26, the main contract of Shanghai aluminum fluctuated and pulled, and the Shanghai aluminum 1906 contract traded at 14155-14250 yuan / ton within the day, closing at 14185 yuan / ton, down 0.
28%
on the day.
Position volume 311148, -26346, futures basis -15, -5
from the previous session.
Industry: Antam also produced 187,830 metric tons of bauxite in the first quarter, down from 200,300 metric tons in the same period last year; Sales fell to 55,000 metric tons from 61,380 metric tons due to export license
extensions.
In terms of the market, the aluminum futures fell all the way before noon, the first trading stage Shanghai transaction price is between 14160-14180 yuan / ton, the opposite plate is pasted 40-20 yuan / ton nearby, the second trading stage Shanghai transaction price is between 14140-14160 yuan / ton, the opposite plate is pasted 20-flat water, the market transaction price is nearly 60 yuan / ton from the previous day, Wuxi transaction price is between 14140-14160 yuan / ton, Hangzhou transaction price is between 14180-14200 yuan / ton
。 The intraday market has sufficient supply, and there are both next month tickets and current month tickets, and the price difference is around
10 yuan / ton.
Shippers are still active in shipments, and trading among traders is active
.
Although the price turned down, the downstream did not show positive stocking sentiment, and the purchasing activity was not as good as the previous day, but the overall receipt was acceptable
.
In terms of inventories, LME aluminum stocks were 1,027,800 tonnes on April 25, down 5,125 tonnes from the previous session; As of April 19, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 665,067 tons, down 36,071 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.
During the day, the main 1906 contract of Shanghai aluminum fluctuated and pulled, the recent favorable supply side, and the decline in Lunhu aluminum inventory, so that the market has a good expectation of aluminum peak season demand, aluminum prices performed strongly, but due to the US dollar index higher, aluminum price rally was blocked
.
In the spot market, cargo holders are still active in shipments, and traders are actively
trading.
Although the price turned down during the day, the downstream did not show positive stocking sentiment, and the purchasing activity was not as good as yesterday, but the overall receipt was acceptable
.
Operationally, it is recommended that the Shanghai aluminum 1906 contract can sell high and low between 14000-14250 yuan / ton, and the stop loss is 100 yuan / ton
each.
