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On Monday, the Shanghai aluminum shock rose slightly, and the main 1901 contract closed up 0.
62% at 13825 at the end of the day, up 85 from the previous trading day; From the trend point of view, autumn and winter environmental protection production restrictions, although the company has not obvious signs of reducing production, but the overall news tends to be calm, aluminum prices may fall into a dilemma pattern, short-term is expected to maintain a narrow range of volatility market, does not rule out signs of stability, the overall fluctuation range of 1.
37-14,000
.
Shanghai spot aluminum ingot quotation 13730-13770 yuan / ton, the average price of 13750 yuan / ton, up 90 yuan / ton, for the 1812 contract discount 60 yuan / ton - discount 20 yuan / ton
.
In terms of inventory, the total inventory of LME aluminum was 1070925 tons, an increase of 4,575 tons, or 0.
43%, from the previous trading day, and the inventory of SHFE aluminum futures warehouse receipts was 581397 tons, down 5,344 tons
from the previous trading day.
Shanghai aluminum 1901 contract opened at 13745 yuan / ton, the highest price was 13845 yuan / ton, the lowest price was 13730 yuan / ton, and the closing price was 13825 yuan / ton, up 85 yuan / ton from the settlement price of the previous trading day, an increase of 0.
62%.
On the industry front, Rio Tinto said aluminium producers will need to build more smelting capacity
outside of China as inventories decline over the next two to three years.
"We think demand growth for aluminium is very healthy," Rio Tinto Aluminium CEO Alf Barrios said
in an interview.
"Previously people thought that China would be an important net exporter to the rest of the world in the future, and I think people now think that supply and demand in China are more balanced.
"
In terms of news, Henan Zhengzhou, Luoyang, Jiaozuo and Shandong Zibo heating season environmental protection production limit plans were introduced last week and will be implemented
from November 15 to March 15 next year.
At the same time, some smelters have stopped production and maintenance due to losses, which may affect the future supply growth rate
of electrolytic aluminum.
The black plate performed strongly, but the possibility of limited production of electrolytic aluminum and alumina was weaker than that of the steel and coke industries, and the aluminum price did not get the premium brought by the policy expectations
.
Some companies' production cuts weaken the short-term aluminum price short-selling power, but the long off-season restricts the willingness of aluminum prices to go long, and aluminum prices
are viewed with low shocks.
