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LME aluminum fell sharply on Friday, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1744.
5 / ton, down 0.
31%
on a daily basis.
The main 1912 contract of Shanghai aluminum fluctuated and fell, with the highest 13925 yuan / ton and the lowest 13600 yuan / ton within the day, closing at 13790 yuan / ton, down 0.
79% from the closing price of the previous trading day; The trading volume was 104,700 lots, an increase of 40,556 lots per day, and the position was 217,300 lots, an increase of 4,424 lots
per day.
The basis was expanded to 180 yuan/ton; The monthly price of Shanghai aluminum in 1911-1912 shrank to 0 yuan / ton
.
Market focus: U.
S.
President Donald Trump said on Thursday that he would meet
with Chinese Vice Premier Liu He on Friday.
Trump also said negotiations between China and the United States are going "very well.
"
Irish Prime Minister Varadkar and British Prime Minister Boris Johnson agreed that a Brexit deal
is possible.
Spot analysis: On October 11, the spot A00 aluminum quotation was 13950-13990 yuan / ton, the average price was 13970 yuan / ton, down 30 yuan / ton
per day.
In the morning market, large households received goods actively, receiving more than 10,000 tons of goods at a price more recognized by the market, holders shipped more actively, and the two sides traded actively, but due to the rapid decline in aluminum prices, the shipments of holders converged, and some middlemen also began to wait and see, the market transaction heat turned weak, and the transaction was less
at this time.
Due to the approaching weekend, downstream manufacturers have a small amount of stocks, but they are still not as good as market expectations
.
Warehouse receipt inventory: last Friday, the total of Shanghai aluminum warehouse receipts was 94,801 tons, a daily decrease of 249 tons, a continuous decline of 14 days; On October 10, LME aluminum stocks were 968,450 tons, an increase of 2,325 tons
per day.
In the week ended October 11, aluminum inventories on the Shanghai Futures Exchange were 319873 tons, a weekly increase of 885 tons
.
Main positions: the top 20 long positions of the main 1912 contract of Shanghai aluminum are 74239 lots, with a daily increase of 642 lots, short positions of 85060 lots, daily decrease of 3280 lots, net short positions of 10821 lots, daily reduction of 3922 lots, more increase and short, net space reduction
.
On October 11, the main force of Shanghai aluminum 1912 fluctuated and declined
.
Brexit sent optimistic signals, the pound soared, coupled with the US economic data performance was less than expected, the Fed interest rate cut expectations heated up, the dollar was frustrated, coupled with the Sino-US trade negotiations released positive signals, positive for aluminum prices, but alumina oversupply, prices continued to be low, and downstream demand continued to weaken, aluminum rod inventory continued to accumulate trend, aluminum prices overall performance weak
.
In terms of spot, large households in the morning market received goods actively, holders shipped more actively, and the two sides traded actively, but due to the rapid decline in aluminum prices, the shipments of holders converged, and downstream manufacturers had a small amount of stock, but it was still less than market expectations
.
Technically, the main 1912 contract of Shanghai aluminum touched the previous low, and the daily MACD green column increment is expected to run weakly in the short term
.
