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On Friday, the main contract of Shanghai aluminum 1805 contract fell under pressure, trading at 14300-14020 yuan / ton during the day, and closing at 14075 yuan / ton at the end of the day, down 1.
09% on the day, and the closing price hit a low since May 15 last year, far weaker than other base metals
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between Shanghai aluminum 1804 contract and 1805 contract narrowed to 80 yuan / ton
.
In terms of external disk, Asia Lun aluminum fell under pressure, of which 3 months Lun aluminum traded at 2115-2093 US dollars / ton, now closed at 2100 US dollars / ton, a slight decline of 0.
36% per day, the current Lun aluminum fell into a low oscillation finishing, showing that the upper selling pressure is heavier, and the lower support focuses on the 200-day moving average, that is, 2080 US dollars / ton
.
In terms of the market, on March 9, Shanghai aluminum trading concentrated 13930-13980 yuan / ton, the discount for the month was 110-90 yuan / ton, Wuxi transaction concentration was 13950-13980 yuan / ton, Hangzhou transaction concentration was 13980-14000 yuan / ton
.
Holders of stable shipments, early trading, middlemen receive goods atmosphere, later with the decline of aluminum prices, middlemen's willingness to receive goods has declined, downstream enterprises after more active procurement accumulated a certain inventory, intraday purchase volume declined, the overall transaction was colder
than the previous day.
In terms of news, at the National Two Sessions on March 6, Ning Jizhe, deputy director of the National Development and Reform Commission, said that "in 2018, the electrolytic aluminum industry will continue to be de-capacityd", but did not indicate specific relevant policies
.
Compared with the clear supply-side reform and heating season production restriction policy in the electrolytic aluminum market in 2017, the current market lacks a clear policy expectation guidance
.
In addition, with the end of the heating season on March 15, the market has not introduced news of production reduction, and with the end of the heating season, if the market does not introduce further capacity reduction policies, aluminum supply may further recover.
In terms of industry, President Trump of the United States announced a 10% global tariff on imported aluminum products, and the China Nonferrous Metals Industry Association expressed strong opposition to this, and strongly called on and suggested that the Chinese government take reciprocal measures against the US trade protectionist policy, requiring countermeasures
against scrap aluminum, coal, agricultural products and high-end consumer goods imported from the United States.
During the day, Shanghai aluminum 1805 fell under pressure to 14075 yuan / ton, hitting a new low in recent times, as domestic inventories continued to reach new highs, supply pressure increased, and aluminum price rebound was highly restricted
.
However, after the aluminum price continues to fall, it is necessary to be wary of technical rebound demand, especially near the 14,000 yuan / ton mark of aluminum prices, and the trend may tend to be cautious
.
It is recommended that the Shanghai aluminum 1805 contract can sell high and low in the range of 13950-14150 yuan / ton, and the stop loss is 80 yuan / ton
each.
