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LME aluminum fell slightly on Wednesday, as of 15:05 Beijing time, 3-month Lun aluminum was reported at $1843.
5 / ton, down 0.
03%
on a daily basis.
The main 1909 contract of Shanghai aluminum fell slightly, with the highest 13930 yuan / ton and the lowest 13855 yuan / ton during the day, and the closing price of 13885 yuan / ton, down 0.
07% from the closing price of the previous trading day; The trading volume was 879.
74 million lots, an increase of 7792 lots per day; The position was 224,100 lots, an increase of 16,970 lots
per day.
The basis was expanded to -35 yuan/ton; The price difference between Shanghai aluminum in 1908-1909 narrowed to -20 yuan / ton
.
Market focus, US retail sales rose 0.
4% m/m in June, revised from 0.
5% to 0.
4% prior, 0.
1% expected; Core retail sales came in at 0.
4% m/m in June, better than market expectations
.
India's Vedanta plans to invest Rs 10,000 crore to boost aluminium production, which will increase to 3 million tonnes
after the completion of this investment.
Spot analysis, on July 17, spot A00 aluminum quotation 13830-13870 yuan / ton, the average price of 13850 yuan / ton, up 10 yuan / ton
from the previous trading day.
Aluminum downward in the morning opening period, holders of shipments are very active, forming a situation of more and less, driven by the rhythm of receiving goods by a large household, the market trading is active, the transaction is better, with the rise of aluminum in the future, the shipment price of the holder has increased, and the willingness of middlemen to replenish at high prices converges, and the trading of buyers and sellers begins to show a stalemate, and the activity of transactions declines
.
The downstream is still purchasing on demand, because the spot price is not advantageous compared with the previous day, the wait-and-see mood has not changed, and the receiving status is not much
different from the previous day.
Warehouse receipt inventory, Shanghai aluminum warehouse receipts on Wednesday totaled 153220 tons, a daily decrease of 549 tons; On July 16, LME aluminum stocks were 994125 tons, an increase of 48,750 tons
per day.
During the day, the main 1909 contract of Shanghai aluminum fluctuated slightly
.
U.
S.
retail sales data was better than expected, and Powell's speech on Tuesday was generally positive about economic growth, expectations of a sharp interest rate cut by the Federal Reserve this month weakened, the dollar rebounded, while rising alumina inventories and continued weakening prices weighed on aluminum prices, although domestic economic data was moderate, supporting aluminum prices
.
In terms of spot, aluminum fell during the morning opening period, and the shippers shipped very actively, forming a situation of more receiving and less, and then the price increased, and the willingness of middlemen to replenish goods at high prices converged; The downstream is still purchasing on demand, and the receiving status is almost the same as yesterday
.
Technically, the daily MACD red column of the main 1909 contract of Shanghai aluminum is flat, and it is expected that the short-term shock adjustment
.
