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Trade Service
On Wednesday, the main monthly 1901 contract of Shanghai aluminum opened at 13915 yuan, with an intraday high of 13945 yuan and a low of 13830 yuan, and closed at 13915 at the end, up 30 yuan tons
from the previous trading day.
The macro of the market is not good, the demand side of the aluminum market is weak, the aluminum price lacks support and the upside is weak, and Shanghai aluminum rose slightly during the day, but the rebound momentum of the future market is insufficient, and the pre-fluctuation range is not large
.
Externally, the fall in the dollar index boosted sentiment in the nonferrous market, intraday aluminum rose slightly, and the upper support focused on $
2,000.
At 15:54 Beijing time, the LME 3-month aluminum was $1956.
5, up $2.
50 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 13800-13840 yuan / ton, down 50 yuan / ton; Guangdong South Reserve reported 13840-13940 yuan / ton, down 60 yuan / ton; Hua reported 13900-13920 yuan / ton, down 50 yuan / ton; The average domestic spot trading price is between
13800-13840 yuan / ton.
Aluminum fell slightly during the day, and the shippers were more active, but the willingness of downstream enterprises to receive goods was not high, and the market transaction was general
.
Industry News:
1.
An Indian refractories trade group has called on the Indian government to reduce import tariffs on raw materials needed to produce refractories, including magnesium and alumina, on the grounds that importing such materials is expensive and relatively scarce
at home.
2.
A Novelis spokesperson said that the company's $300 million Kentucky automotive aluminum plate manufacturing plant is expected to start production
in mid-2020.
Mike Touhill said the project is currently under construction and is expected to have an annual capacity of 200,000 tons
.
The main force of Shanghai aluminum transferred to the 1901 contract during the day, closed higher after testing 13700, closed at 13915 operation, and after falling below 14000, it continued to be weak in the short term, 13700-13500 are support, slow to fall, and not much
space.
