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Market review: On Tuesday, the main 1907 contract of Shanghai aluminum weakened, and the Shanghai aluminum 1907 contract traded at 14230-14320 yuan / ton within the day, closing at 14240 yuan / ton, down 0.
32%
on the day.
Position volume 241904,+424; spot basis +60, +20
from the previous session.
Industry: Nearly 500 members of the local chapter of the United Steelworkers in Massena, New York, voted late Friday to agree to strike action
after negotiations with Alcoa and Arconic broke down in mid-May.
However, it has not yet been determined whether workers will go on strike
in the near future.
In the market, aluminum futures opened the month volatile and fell
.
In the morning, the Shanghai trading price was between 14280-14300 yuan / ton, as the aluminum continued to fall, the Shanghai spot trading price began to concentrate between 14270-14290 yuan / ton, the price fell from last Friday around 50 yuan / ton, the monthly premium 10 ~ 20 yuan / ton, Wuxi spot transaction price between 14270-14290 yuan / ton, Hangzhou transaction price between 14310-14330 yuan / ton
.
The intraday market has sufficient goods for the next month, relatively few goods in the current month, and the holders are actively shipped, but most of them are mainly out of the next month, and there are more sellers than buyers, and the actual transaction is not as good as the previous day
.
Although the price of aluminum has fallen within the day, there are replenishments downstream and superimposed on the price wait-and-see, so the purchase is not high, and the basic purchase
is on demand.
In terms of inventories: LME aluminum stocks were 1,208,900 tons on May 24, down 5,125 tons from the previous session; As of May 24, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 539,202 tons, down 29,929 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.
During the day, the main 1907 contract of Shanghai aluminum weakened
.
In the spot market, the holders are actively shipping, but most of them are mainly out of the next month, there are more sellers than buyers, and the actual transaction is not as good as the previous day
.
In operation, it is recommended that the Shanghai aluminum 1907 contract can consider selling high and low between 14050-14350 yuan / ton, and the stop loss is 100 yuan / ton
each.
