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On Tuesday evening, the external non-ferrous sector was mainly volatile, and the domestic copper and aluminum night trading was slightly differentiated, and the main contract of Shanghai aluminum futures closed at 14350 yuan / ton, up 0.
17%
on the day.
Non-ferrous metals rose to varying degrees in the overnight futures market, while Shanghai aluminum performed steadily and rose
slightly.
Today's aluminum price is expected to fluctuate strongly, for reference
only.
In terms of inventory, the latest inventory of LME aluminum was 913925 tons, down 5125 tons from the previous trading day; The aluminum warehouse receipt of the previous period was 139321 tons, a decrease of 1573 tons
compared with the previous trading day.
In terms of spot, the transaction price in Shanghai Wuxi market is between 14380-14390 yuan / ton, the flat water to the premium of the plate is 40-50 yuan / ton, and the spot price in Hangzhou is around
14390-14410 yuan / ton.
The resumption of production of alumina plants increases supply pressure, and its price further upward momentum is insufficient or causes aluminum companies to maintain high profits, and aluminum production capacity is more likely to be put into operation as planned
.
The peak season of the Golden Nine Silver Ten Season or the arrival of the domestic promotion fee policy, the market is optimistic about the good demand, and the inventory of aluminum ingots is expected to accelerate and boost aluminum prices
.
In terms of news, in order to further accelerate the transformation and upgrading of aluminum, lead and zinc and magnesium industries and promote the technological progress of the industry, in accordance with relevant national laws, regulations and industrial policies, the Ministry of Industry and Information Technology revised the "Aluminum Industry Specification Conditions (2013)", "Lead and Zinc Industry Specification Conditions (2015)" and "Magnesium Industry Access Conditions (2011)", and compiled the "Aluminum Industry Specification Conditions (Draft for Comments)", "Lead and Zinc Industry Specification Conditions (Draft for Comments)" and "Magnesium Industry Specification Conditions (Draft for Comments)".
It is now open for comments
.
If you have any comments or suggestions, please report to the Department of Raw Material Industry of the Ministry of
Industry and Information Technology in writing or email before September 17, 2019.
Logic: The Ministry of Industry and Information Technology issued the "Aluminum Industry Specification Conditions (Draft for Comments)" to standardize the relevant guidelines for the entry and operation of the industry, which is beneficial to the long-term development of the industry and boosts aluminum prices
.
At present, the market contradiction has changed into the resumption of production and consumption, and the affected production capacity in Shandong has partially recovered, but it will take time for more than half of the production capacity to recover; The affected production capacity in Xinjiang is expected to resume at the end of September, earlier than expected, but it cannot make up for the lack
of output in September.
The existence of a supply gap provides upward momentum for aluminum prices, but the resumption of production slightly faster than expected makes the upward path of aluminum prices tortuous, and bulls need more powerful destocking to enhance confidence
.
