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Market review, last Friday's Shanghai aluminum main 1907 contract volatility strengthened, Shanghai aluminum 1907 contract intraday trading at 14085-14240 yuan / ton, closed at 14240 yuan / ton, up 0.
92%
per day.
Position volume 239440, +7066; futures basis -10, -60
from the previous session.
Industry: Turkey's CTC Mining reached an export deal of about 55,000 tonnes of bauxite with a Chinese buyer in the middle of this month, and plans to ship it in two weeks, a company source said
.
The person said that they currently supply Al2O3 55%min SiO2 6%max bauxite monohydrate, and China's CIF price is about
$62/ton.
"In July we are expected to export a second vessel," the source said
.
They are currently not in stock
.
In terms of the market, the opening of the month was dominated
by narrow range fluctuations.
Shanghai spot trading price is around 14220-14240 yuan / ton, the price is up 70 yuan / ton from the previous day, for the current month premium 10 ~ 20 yuan / ton, Wuxi spot transaction price is between 14220-14240 yuan / ton, Hangzhou transaction price is between
14250-14270 yuan / ton.
The intraday market is abundant, and shippers' shipments remain positive
.
Due to the approaching weekend, the downstream is optimistic about the future market for stocking considerations, and the receipt of goods is more positive
when the price is in line with the market expectations.
In terms of inventories: LME aluminum stocks were 1,214,025 tons on May 23, down 8,600 tons from the previous session; As of May 17, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 569,131 tons, down 32,231 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.
During the day, the main 1907 contract of Shanghai aluminum fluctuated and strengthened
.
In the spot market, the supply is sufficient, and the shipments of holders are still active
.
Due to the approaching weekend, the downstream is optimistic about the future market for stocking considerations, and the receipt of goods is more positive
when the price is in line with the market expectations.
In operation, it is recommended that the Shanghai aluminum 1907 contract can consider selling high and low between 14050-14350 yuan / ton, and the stop loss is 100 yuan / ton
each.
