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LME aluminum fluctuated slightly on Friday, as of 15:34 Beijing time, 3-month Lun aluminum was reported at $1825.
0 / ton, up 0.
22%
per day.
The main 1908 contract of Shanghai aluminum opened low and fluctuated, with the highest 13790 yuan / ton and the lowest 13730 yuan / ton during the day, and the closing price was 13770 yuan / ton, down 0.
25% from the closing price of the previous trading day; The trading volume was 100,900 lots, a daily decrease of 50,406 lots, and the position was 201,500 lots, a daily decrease of 4,148 lots
.
The basis was reduced to -50 yuan/ton; The price difference between Shanghai and aluminum in 1908-1909 widened to -25 yuan / ton
.
In the spotlight, the US core CPI rose 0.
3% m/m in June, the biggest increase in a year and a half
.
At the same time, U.
S.
jobless claims were also strong, better than expected and prior
.
The Ministry of Commerce said that the Sino-US economic and trade team is maintaining communication
on the specific arrangements for the next step.
In June 2019, China's aluminum fluoride producers sold about 60,000 tons, an increase of about 15.
9% month-on-month and about 27.
7%
year-on-year.
Spot analysis, on July 12, spot A00 aluminum quotation 13700-13740 yuan / ton, the average price of 13720 yuan / ton, down 80 yuan / ton
from the previous trading day.
According to reports, spot aluminum prices almost gave up all the previous day's gains, the market wait-and-see mood rose again, morning holders shipments are still more positive, traders are enthusiastic, after 10:30 considering the market price is appropriate, traders and middlemen began to turn to receiving goods, the transaction is acceptable
.
However, due to the weakening of orders and the wait-and-see price at the downstream end, the intraday stocking sentiment was not high, and although the receipt was better than the previous day, it was still lower than the market's expected stocking level
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 155266 tons on Friday, a daily decrease of 475 tons; On July 11, LME aluminum stocks were 934,500 tons, a daily decrease of 7,250 tons, and a decline of 45 consecutive days
.
The main 1908 contract of Shanghai aluminum opened low and fluctuated
during the day.
The strong performance of the US economic data released overnight basically dispelled the Fed's expectation of a sharp interest rate cut this month, and the dollar recovered slightly, coupled with weak downstream demand, which put some pressure
on aluminum prices.
In terms of spot, the market wait-and-see sentiment has risen again, holders are still more active in shipments, and traders are enthusiastic about trading, but the downstream end due to weaker orders, coupled with the price wait-and-see, intraday stocking sentiment is not high
.
Technically, the main 1908 contract daily MACD red column of Shanghai aluminum is flat, paying attention to the pressure of the upper 30-day moving average, and it is expected that the short-term shock will be weak
.
