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LME aluminum fell slightly on Thursday, and as of 15:05 Beijing time, 3-month Lun aluminum was reported at $1750.
5 / ton, down 0.
11%
on a daily basis.
The main 1911 contract of Shanghai aluminum continued to decline, with the highest 14125 yuan / ton and the lowest 14040 yuan / ton during the day, closing at 14040 yuan / ton, down 0.
50% from the closing price of the previous trading day; The trading volume was 108,700 lots, a daily decrease of 24,876 lots, and the position was 216,000 lots, a daily decrease of 6,360 lots
.
The basis was reduced to 150 yuan/ton; The price difference between Shanghai aluminum in 1911-1912 narrowed to 30 yuan / ton
.
Market focus: US new home sales in August annualized 7.
1%, higher than -12.
8% in the previous month and 2.
8%
expected.
The Prime Minister reiterated that he would not request a delay in Brexit and was determined to lead LinkedIn countries out of the EU on October 31, according to the Prime Minister's spokesman, and the market's fears of a no-deal Brexit have reheated again
.
On September 26, the total inventory of aluminum ingots in domestic consumption was 939,000 tons, down 27,000 tons
from last Thursday.
Spot analysis: On September 26, the spot A00 aluminum quotation was 14170-14210 yuan / ton, the average price was 14190 yuan / ton, down 90 yuan / ton
per day.
In the morning, the transaction between the holder and the middleman is acceptable, the trading of the two sides is still active, as the aluminum sinks, the spot price falls, the market wait-and-see mood gradually rises, the middleman receives the goods convergence, the holder at this time to reduce the price of active shipments does not help, the market transaction activity falls
.
Downstream manufacturers also showed a wait-and-see mood and basically took goods
on demand.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 104455 tons on Thursday, a daily decrease of 730 tons; On September 25, LME aluminum stocks were 907,400 tons, an increase of 7,475 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 1911 contract are 68969 lots, minus 2056 lots, short positions are 78790 lots, daily minus 2703 lots, net short positions are 9821 lots, daily minus 647 lots, long and short are reduced, net space is reduced
.
On September 26, the main force of Shanghai aluminum 1911 continued to decline
.
Brexit concerns without a deal put pressure on the pound, coupled with strong US economic data, the dollar continued to be strong, putting pressure on aluminum prices, the recent concentration of aluminum rods arrived, coupled with the downstream pre-holiday stocking willingness to fade, inventories increased, aluminum prices weak, but by the low output of electrolytic aluminum plants, electrolytic aluminum inventories continue to degrade, and environmental protection production restrictions, aluminum prices downward momentum is expected to slow down
.
In terms of spot, the morning holders and middlemen traded fairly, the trading of the two sides is still active, as the price falls, the middlemen receive goods converged, the holders at this time to reduce prices and actively ship will not help, downstream manufacturers also show a wait-and-see mood
.
Technically, the main 1911 contract of Shanghai aluminum focuses on the support at the 13900 position, and is expected to recover from the short-term low
.
