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Last Thursday, LME aluminum volatility was strong, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1821 / ton, 0.
25%
per day.
The main 1911 contract of Shanghai aluminum fluctuated slightly, with the highest 14470 yuan / ton and the lowest 14390 yuan / ton within the day, closing at 14425 yuan / ton, up 0.
07% from the closing price of the previous trading day; The trading volume was 123,600 lots, a daily decrease of 14,972 lots, and the position was 283,100 lots, an increase of 4,838 lots
per day.
The basis is -35 yuan/ton; The price difference between Shanghai aluminum in 1910-1911 was 35 yuan / ton
.
Market focus: The United States will postpone the increase in tariffs on China from October 1 to October 15
.
China announced exemptions from the 25 percent tariff
imposed last year on a range of U.
S.
goods.
China's RMB loans increased by 1.
21 trillion yuan in August, a year-on-year increase of 66.
5 billion yuan; the increase in the scale of social financing in August was 1.
98 trillion yuan, 37.
6 billion yuan more than the same period last year.
Domestic consumption of aluminum ingot stocks totaled 972,000 tons on September 12, down 34,000 tons
from last Thursday.
Spot analysis: On September 9, the spot A00 aluminum quotation was 14370-14410 yuan / ton, the average price was 14390 yuan / ton, down 30 yuan / ton
per day.
A large household received nearly 20,000 tons of goods in the East China market, and the receipt exceeded expectations, because the price was suitable, the cargo carrier was very active, the middleman was willing to receive the goods, the two sides traded actively, and the transaction enthusiasm fell after 11:00
.
Downstream manufacturers can receive goods fairly, because aluminum prices have fallen from last Friday and there is a demand for replenishment, and procurement is more active
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 135164 tons on Thursday, an increase of 1,800 tons per day; On September 11, LME aluminum stocks were 916,000 tons, a daily decrease of 825 tons
.
Main positions: the top 20 long positions of the main 1911 contract of Shanghai aluminum are 88318 lots, an increase of 3118 lots per day, short positions are 108440 lots, a daily increase of 2593 lots, net short positions are 20122 lots, a daily decrease of 525 lots, long and short are increased, and net space is reduced
.
On September 12, the main force of Shanghai aluminum 1911 fluctuated slightly
.
China and the United States have exchanged goodwill in trade, market optimism has warmed up, midstream electrolytic aluminum plant production has declined, electrolytic aluminum inventory dematerialization continues, which is good for aluminum prices, while upstream alumina prices have rebounded at a low level, and the pressure on the cost side is declining, but the year-on-year decline in automobile sales in August has expanded, and downstream demand has been weak, forming some pressure
on aluminum prices.
In terms of spot, a large household received nearly 20,000 tons of goods in the East China market, the receipt exceeded expectations, the willingness of middlemen to receive goods was obvious, the two sides traded actively, and downstream manufacturers could receive goods
.
Technically, the main 1911 contract of Shanghai aluminum runs above the moving average group, and short-term volatility is expected to be strong
.
