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LME aluminum fell slightly on Tuesday, as of 15:05 Beijing time, 3-month Lun aluminum was reported at $1716 / ton, down 0.
17%
on a daily basis.
The main 1912 contract of Shanghai aluminum rebounded slightly, with the highest 13790 yuan / ton and the lowest 13705 yuan / ton within the day, closing at 13765 yuan / ton, up 0.
22% from the previous trading day's closing price; The trading volume was 93,600 lots, a daily decrease of 6,832 lots, and the position was 223,800 lots, an increase of 3,156 lots
per day.
The basis was reduced to 5 yuan/ton; The monthly price of Shanghai aluminum in 1911-1912 was expanded to 25 yuan / ton
.
Market focus: In September 2019, China's CPI rose 3.
0% year-on-year and 0.
9% month-on-month; China's PPI fell 1.
2% year-on-year and rose 0.
1% month-on-month, with food prices rising 11.
2%.
According to the latest news from the BBC, the European Union is considering holding a new emergency summit to "reach a Brexit agreement"
.
Chinalco has delayed the commissioning of Guinea's Boffa bauxite project to the first quarter of 2020 due to the delay in production due to climate problems in Guinea, and the initial development capacity of the project is expected to be 12 million tons per year
.
Spot analysis: On October 15, the spot A00 aluminum quotation was 13750-13790 yuan / ton, the average price was 13770 yuan / ton, and the daily decline was 30 yuan / ton
.
The market supply is tight, the morning market transaction is more active, buyers and sellers trading enthusiasm is higher, with the rise of aluminum, the holder began to show reluctance to sell, although the middleman has a strong willingness to receive goods, but at this time it is more difficult to trade at a preferential price, the two sides began to stalemate, less to receive more
.
Downstream manufacturers mainly take goods on demand, and some downstream companies have the willingness to purchase, but due to the reduction of later shipments by the holders, the actual transaction between the two parties is not much
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 95,508 tons on Tuesday, a daily decrease of 2,184 tons; On October 14, LME aluminum stocks were 983,600 tons, an increase of 9,400 tons
per day.
Main positions: the top 20 long positions of the main 1912 contract of Shanghai aluminum are 75230 lots, minus 119 lots per day, short positions are 86154 lots, daily increase of 829 lots, net short positions are 10924 lots, daily increase of 948 lots, more short increases, net space increases
.
On October 15, the main force of Shanghai aluminum 1912 rebounded
slightly.
Sino-US trade negotiations have made phased progress, market confidence has improved, and electrolytic aluminum inventories continue to degrade, which is good for aluminum prices, but at present, alumina is showing oversupply, prices continue to be low, and downstream demand continues to be weak, aluminum rod inventory shows a cumulative trend, aluminum prices overall performance is weak
.
In terms of spot, the market supply is tight, the morning market transaction is more active, buyers and sellers are more enthusiastic about trading, with the rise of aluminum, the two sides began to stalemate, downstream manufacturers on demand to take goods, some downstream have the willingness
to purchase.
Technically, the main 1912 contract of Shanghai aluminum runs below the giant contribution group, focusing on the pressure at the 13900 position above, and the short-term shock is expected to be weak
.
