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Yesterday's daily Shanghai aluminum main force once leaked, aluminum market bearish sentiment is strong.
It opened at 14,325 yuan, with an intraday high of 14,345 yuan and a low of 14,760 yuan, and closed at 13,940 yuan, down 530 yuan, or 3.
66%.
Shanghai aluminum opened low yesterday night, down 13510 yuan, and then more strength, to the night close down 45 yuan, or 0.
32%.
In terms of external trading, LME03 aluminum was quoted at $1745.
5 at 3:00 pm (Beijing time) yesterday
.
On the supply side, aluminum enterprises have steadily released production capacity, Yunnan Hongtai has been powered on since early September, and recently Weiqiao Yunnan project has also begun to put into production, production capacity has accelerated, electrolytic aluminum operating rate continues to rise, and there is a loose trend
on the supply side.
On the cost side, yesterday's alumina cost maintained a narrowing profit margin of 12,723 yuan
.
In terms of premium premium: domestic spot premium was adjusted by 40 yuan from the previous day to 180 yuan / ton, and the discount range of aluminum continued to narrow slightly to 39.
74 US dollars, continuing to maintain a high level
.
In terms of stocks, LME stocks continued to fall by 3,950 tons to 1,482,200 tons, the previous inventory fell by 2,275 tons to 249,000 tons, and the social bank fell by 13,000 tons to 716,000 tons according to the data on September 21, and the social electrolytic aluminum inventory went to storage
for three consecutive periods.
Overall, in terms of raw materials, alumina prices bottomed out, the current profits of the electrolytic aluminum industry have shrunk but are still at a high level, and the demand side has entered the September consumption season, but the demand has not met expectations, and the overall performance is relatively weak
.
The overseas epidemic has been repeated, and there is uncertainty
about the economic impact of the epidemic.
From the perspective of the future market, the supply side has accelerated with the resumption of production by aluminum enterprises, and the production capacity of the supply side has been further released, while the downstream start has remained stable, and the demand side has not been guided by the consumption season, and the consumption performance has not met expectations
.
It is expected that the short-term aluminum price trend will be mainly adjusted by
shocks.
The eleventh day is approaching, the market is uncertain, should be based on risk avoidance, operationally it is recommended to speculate and leave the market, wait and see for the time being, cautiously chase short, set a protective stop loss, and new orders are recommended to wait and see
.
