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On Friday night, international bulk industrial products ups and downs, most of the nonferrous rebound, with the arrival of the long holiday, risk assets face a certain selling pressure, the market focuses on the Sino-US trade situation, financial assets are in a sensitive time, the non-ferrous sector copper market short-term shock, the medium-term market is still optimistic, aluminum market is expected to be high pullback, the operation is recommended that aluminum more to see less movement temporarily wait and see
.
In terms of inventory, the latest inventory of LME aluminum was 914725 tons, an increase of 4,150 tons from the previous trading day; The aluminum warehouse receipt of the previous period was 102961 tons, a decrease of 1494 tons
compared with the previous trading day.
In terms of spot, the transaction price of Shanghai Wuxi market is between 14010-14040 yuan / ton, the opposite plate premium is 20-40 yuan / ton, and the spot price in Hangzhou is around
14040-14060 yuan / ton.
Aluminum prices fluctuated sharply, buyers and sellers were deadlocked, and some downstream stocks were stocked before the holiday
.
On the news front, British Prime Minister Boris Johnson said his government would abide by the law and remained confident
that Britain could leave the EU in the event of a deal.
Wang Shouwen, vice minister of commerce and deputy representative of international trade negotiations, released the news
on the 29th.
He said that he expects that in this round of consultations, China and the United States can meet each other halfway and accommodate each other's concerns
on the basis of equality and mutual respect.
This is good for the people of both countries and good for the world
.
Last Friday night, aluminum prices continued to fall to the 13800 mark after bears cashed in profits, and aluminum prices rebounded
slightly.
After the National Day, pay attention to the progress of Sino-US trade negotiations and the Brexit process, and the pent-up downstream consumption before the holiday is expected to recover after the holiday, which gives some support
to prices.
However, the increase in supply is returning at a visible speed, and the limited recovery of consumption does not change the downward pattern of supply and demand, and continues to sell short at high prices
.
