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On Friday, the main monthly 1804 contract of Shanghai aluminum opened at 14140 yuan, the intraday high of 14390 yuan and the low of 14130 yuan, and closed at 14365 at the end, up 215 yuan / ton
from the previous trading day.
Last year's global primary aluminum market supply shortage showed that demand improved, Shanghai aluminum was shocked a sharp rise in the day, the current market bullish atmosphere is strong, and short-term aluminum prices are expected to remain strong and volatile
.
In terms of external trading, the United States plans to impose heavy taxes on imported aluminum causing market panic, and intraday aluminum fell
slightly.
LME aluminum rebounded after opening as low as $2,181 in March, hitting two intraday highs, rising to $2,196 before the Asian market closed and closing at $2,191.
5, up $6, or 0.
27%.
In terms of the market, the spot trading price of Yangtze River was 13930-13970 yuan / ton, up 260 yuan / ton; Guangdong South Reserve reported 14020-14120 yuan / ton, up 230 yuan / ton; Hua reported 14030-14050 yuan / ton, up 240 yuan / ton; The average domestic spot trading price is between
13950-13990 yuan / ton.
Aluminum rose sharply within the day, the willingness of holders to ship has improved, downstream enterprises are actively receiving goods, and the market transaction is active
.
Market News:
1.
For areas with a large proportion of electrolytic aluminum production and processing, such as Yantai, Binzhou, Liaocheng and other cities, implement the transformation and upgrading project of the aluminum industry, promote the demonstration of new industrialized industries of aluminum deep processing, and cultivate characteristic economies and advantageous industries
.
2.
RUSAL (00486.
HK) announced that for the year ended December 31, 2017, the company achieved revenue of 9.
969 billion US dollars, a year-on-year increase of 24.
9%; gross profit was US$2.
786 billion, a year-on-year increase of 42.
65%;
Intraday commodity bullish atmosphere is strong, driving the aluminum market to rebound, the expansion of the external supply and demand gap makes Lun aluminum maintain a strong trend, the domestic post-holiday resumption tide has not yet arrived, aluminum ingot inventory will still accumulate, coupled with the end of the heating season costs may face the possibility of further weakening, short-term aluminum prices will still be under pressure
after the rebound.
From the perspective of futures, the main MACD of Shanghai aluminum will be the golden cross, KDJ dead cross, the price rebounded sharply against the early mid-black line, short-term face above 14500 yuan pressure
.
