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LME aluminum rose slightly on Tuesday, and as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1793.
5 / ton, up 0.
08%
per day.
The main 1910 contract of Shanghai aluminum fell back, with the highest 14455 yuan / ton and the lowest 14310 yuan / ton during the day, closing at 14335 yuan / ton, down 0.
42% from the previous trading day's closing price; The trading volume was 206,800 lots, a daily decrease of 34,130 lots, and the position was 351,700 lots, an increase of 590 lots
per day.
The basis expanded to -80 yuan/ton; The price difference between Shanghai aluminum from 1910 to 1911 widened to 25 yuan / ton
.
Market focus: U.
S.
Commerce Secretary Wilbur Ross announced Monday that the department will extend Huawei's "temporary license" to buy U.
S.
-made products for another 90 days, with a deadline of about November 19
.
US President Donald Trump again urged the Fed to cut interest rates, calling for a reduction of at least 100 basis points in the short term, and for the first time asking the Fed to restart monetary easing QE
.
According to Zhuochuang data monitoring, from January to July 2019, the domestic real estate aluminum consumption was about 6.
5824 million tons, down 6.
12%
year-on-year.
Spot analysis: On August 20, the spot A00 aluminum quotation was 14210-14250 yuan / ton, and the average price was 14230 yuan / ton, down 10 yuan / ton
from the previous trading day.
The market supply is tight, the holders are more priced, the morning middleman receives the goods very actively, traders are active in trading, the overall transaction is acceptable, with the sharp rise in aluminum prices, the holders are reluctant to sell at a high price, the enthusiasm of the middlemen to receive goods has increased, but because the price is higher and the shippers' shipments are reduced earlier, the actual transaction has become weak
.
There are no obvious signs of replenishment downstream, more wait-and-see, it is difficult to recognize high prices, and the performance is calm
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 149408 tons on Tuesday, a daily increase of 2311 tons; On August 19, LME aluminum stocks were 962,350 tons, a daily decrease of 6,900 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract 107506 lots, a daily decrease of 384 lots, a short position of 126771 lots, a daily increase of 3268 lots, a net short position of 19265 lots, a daily increase of 3652 lots, a long reduction and a net
increase.
On August 20, the main 1910 contract of Shanghai aluminum soared and fell
.
Sino-US trade tensions eased, market risk sentiment rebounded, superimposed on upstream alumina prices stabilized, midstream electrolytic aluminum inventories continued to deteriorate, downstream aluminum rod inventories declined, prices rebounded, positive for aluminum prices, but terminal demand continued to be weak, forming some pressure
on aluminum prices.
In terms of spot, the market supply is tight, the holders are more competitive, the middlemen receive goods in the morning are very active, the traders are active in trading, the overall transaction is acceptable, and there are no obvious signs of replenishment downstream, which is more wait-and-see
.
Technically, the main 1910 contract of Shanghai aluminum fluctuated at a high level, touching a new high in the year, and it is expected that the short-term shock will be strong
.
