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On Monday, the internal market showed a pattern of coal flying, but the rebound trend was very limited to Shanghai aluminum, and the confidence of Shanghai aluminum market bulls was seriously insufficient
.
The price of the main 1703 contract of Shanghai aluminum fluctuated around 12650 yuan after the morning opening, and then rushed to a maximum of 12710 yuan, and the price immediately fell under pressure to around 12640 yuan, and after the afternoon opening, the aluminum price plunged again, once falling to the lowest 12535 yuan, and the price rebounded
slightly before closing.
At the close, the price closed at $12,580, down 10 yuan, or 0.
08%.
In the external market, the LmeS aluminum 3-month contract opened slightly lower at $1715 in the morning, slightly rushed up below the flat of $1717.
5, then fluctuated lower, fell to a minimum of $1707 in the afternoon, and rebounded
slightly before closing.
By the close of the Asian session, the price closed at $1,713, down $5, or -0.
29%.
In terms of the market, on Monday, the spot aluminum quotation of Shanghai Nonferrous Metals Trading Center (SME) in the morning was 12610-12650 yuan / ton, down 20 yuan / ton from last Friday, the premium was B10-B50, and the premium remained in the low range
.
The market has sufficient circulation and supply, and the downstream continues to wait and see on Monday, and the overall trading is average
.
Holders have high enthusiasm for high shipments, but the downstream purchasing willingness is insufficient, so traders take the initiative to adjust prices and shipments later, but at present, the market supply is sufficient, buyers purchase on demand, but are not eager to receive goods, and market transactions continue to perform generally
.
In terms of inventory, Shanghai inventory is expected to increase slightly, the enthusiasm of holders to ship increases, the circulation supply increases, Wuxi inventory pressure is smaller than Shanghai, the holder ships steadily, Hangzhou holders stable shipments, under the pattern of oversupply, the spot prices in East China tend to be the same, before the downstream pre-stocking period, the willingness of middlemen to stock goods is more cautious, downstream consumer demand is limited, and the overall transaction remains cold
.
This week entered the aluminum moon-for-month cycle, and there was almost no price difference in the next month, and spot premiums are expected to struggle
near flat water.
On the whole, the weakening of the arrival by the Spring Festival did not cause a high premium in spot, and the shipment attitude of the holders was still positive
.
At present, the market supply is increasing, under the pattern of oversupply, the downstream as a whole holds a wait-and-see attitude, the recent period of pre-downstream stocking, the willingness of middlemen to stock is more cautious, downstream consumer demand is limited, and the overall transaction remains cold
.
