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Trade Service
Market review, last Friday's Shanghai aluminum main contract volatility is strong, Shanghai aluminum 1906 contract traded at 14040-14095 yuan / ton, closed at 14080 yuan / ton, up 0.
21%
per day.
Position volume 286760, +14120; futures basis -30, -15
from the previous session.
In terms of industries, data showed that China's alumina output in March increased by 5.
6% year-on-year to 6.
23 million tons; The cumulative output from January to March was 18.
248 million tons, an increase of 11.
1%
year-on-year.
In terms of the market, the first trading range of aluminum futures fluctuated upward before noon, and the second trading stage maintained high range fluctuations
.
The market in the day is full of supply, the morning Shanghai transaction price concentrated between 14050-14070 yuan / ton, with a merchant did not purchase publicly in the market, the willingness of the holder to ship increased, the shippers gradually increased, Shanghai spot price began to concentrate between 14030-14050 yuan / ton, the month sticker 10 ~ Pingshui nearby, compared with yesterday up nearly 10 yuan / ton, Wuxi transaction price between 14050-14070 yuan / ton, Hangzhou transaction price around 14070-14080 yuan / ton
。 Traders and intermediaries are more active
.
Because on Friday, the downstream willingness to consider purchasing for stockpiling began to be prominent compared with previous days, but there was still a certain wait-and-see attitude
towards high prices.
In terms of inventories, LME aluminum stocks were 1,053,925 tons on April 18, down 6,875 tons from the previous session; As of April 12, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 701,138 tons, down 20,954 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
The main 1906 contract of Shanghai aluminum fluctuated strongly during the day, the favorable supply side, and the decline in domestic aluminum inventories supported the strong trend of aluminum prices, but whether it can further rise needs to pay attention to downstream demand
.
In the spot market, traders and middlemen are more active
.
Because on Friday, the downstream willingness to consider purchasing for stockpiling began to be prominent compared with previous days, but there was still a certain wait-and-see attitude
towards high prices.
Operationally, it is suggested that the Shanghai-aluminum 1906 contract can be considered for the time being
.
