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LME aluminum fluctuated on Tuesday, as of 16:15 Beijing time, 3-month Lun aluminum was reported at $1737.
5 / ton, down 0.
66%
on a daily basis.
The upward resistance of the main 1910 contract of Shanghai aluminum was blocked, with the highest 14360 yuan / ton and the lowest 14290 yuan / ton within the day, closing at 14310 yuan / ton, down 0.
31% from the closing price of the previous trading day; The trading volume was 95278 lots, and the daily decrease was 30892 lots; The position was 284,400 lots, an increase of 14,890 lots
per day.
The basis was expanded to 80 yuan/ton; The price difference between Shanghai and aluminum in 1910-1911 remained at 20 yuan / ton
.
Market focus: The British parliament will vote on Tuesday on a motion to block a no-deal Brexit, and if British Prime Minister Boris Johnson loses this crucial vote, then he will try to trigger an early general election
.
In July 2019, China's exports of aluminum alloy wheels were US$365 million, a year-on-year decrease of 8.
5%, and the number of exports was 8.
26 million (calculated as 10kg/only), a year-on-year decrease of 0.
3%; From January to July 2019, China's aluminum wheel exports were 2.
370 billion US dollars, a year-on-year decrease of 12.
1%, and the export quantity was 52.
37 million (calculated by 10kg/only), a year-on-year decrease of 5.
6%.
Spot analysis: On September 3, the spot A00 aluminum quotation was 14370-14410 yuan / ton, and the average price was 14390 yuan / ton, up 80 yuan / ton
from the previous trading day.
During the day, a large household normal purchase of close to 10,000 tons, due to the high price of aluminum, the holder actively shipped, but the middleman and the downstream are afraid of heights, the price is not well recognized, the receipt of goods is not much, the transaction is slightly deadlocked, the spot premium after the receipt of the large household is completed, the downstream manufacturers take goods on demand, the purchase is flat, and there is no obvious improvement
from the previous day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 139321 tons on Tuesday, a daily decrease of 1573 tons; On September 2, LME aluminum stocks were 919,050 tons, a daily decrease of 7,950 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract were 89660 lots, 6319 lots per day, short positions were 107613 lots, 3010 lots per day, net short positions were 17953 lots, daily increase of 3309 lots, more short reduction, net space increased
.
On September 3, the upward movement of Shanghai's main 1910 contract was blocked
.
The British early election speculation heats up, the weakening of the pound and the euro boosts the rise of the US dollar, and the macroeconomic data is weak, putting pressure on aluminum prices, but the upstream alumina price stabilizes and rises, the production of midstream electrolytic aluminum plants declines, electrolytic aluminum inventories continue, and the demand recovery expected by the peak season of the aluminum market gradually strengthens
the price of aluminum.
In terms of spot, a large household normally purchased nearly 10,000 tons during the day, due to the high price of aluminum, the holder actively shipped, but the middleman and the downstream were afraid of heights, did not recognize the price and received not much, the transaction was slightly deadlocked, and the downstream manufacturers took goods
on demand.
Technically, the main 1910 contract daily MACD green column of Shanghai aluminum is slightly reduced, focusing on the support of the 14200 position below, and it is expected that the short-term stabilization and recovery
.
