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On Thursday, Shanghai aluminum opened at 14215 yuan / ton in the morning, after the opening of the bulls actively closed the market, Shanghai aluminum passive decline low touched 14110 yuan / ton, afternoon market news flowed, Xinjiang Jiarun Resources Holdings Co.
, Ltd.
operating 600,000 tons of electrolytic aluminum production capacity of 200,000 tons of illegal production capacity, a few days ago has entered the shutdown stage, the news quickly boosted market sentiment, bulls actively entered to push aluminum prices upward, once touched 14360 yuan / ton, closed at 14350 yuan / ton, The volume decreased by 52818 lots to 438790 lots, and the open position increased by 3262 lots to 322064 lots
.
The upsurge of aluminum market policy has not yet receded, it is not advisable to be overly bearish on aluminum prices, and it is still necessary to pay attention to the implementation of the work plan for illegal production capacity in the short term
.
Short-term Shanghai aluminum is expected to explore the first line
of 14,500 yuan / ton.
In terms of external trading, Lun aluminum opened at 1910.
5 US dollars / ton in the morning, and the Asian session Lun aluminum was weak to sort out below the 40-day line, the low touched 1907.
5 US dollars / ton, and in the afternoon it was boosted by the news of the implementation of domestic production cuts, Lun aluminum put up sharply to touch 1941 US dollars / ton, entering the European trading session, Lun aluminum high volatility, repeatedly tested the effective support of the 10/20 daily moving average, as of 16:55, Lun aluminum reported 1938.
5 US dollars / ton, it is expected that Lun aluminum or will continue to test the 10/20 daily line support, Pay attention to the domestic market and surrounding metal dynamics
.
In terms of spot, aluminum fell steadily in the month, and the end of the market was slightly repaired, with Shanghai trading concentrated 13920-13940 yuan / ton, the discount of the month 150-130 yuan / ton, Wuxi trading concentrated 13910-13930 yuan / ton, Hangzhou transaction concentrated 13930-13940 yuan / ton
.
Holders stable shipments, when the aluminum fell to the bottom, the willingness of the holders to ship has converged, promoting a slight narrowing of the discount, the price of aluminum fell below 14,000 yuan / ton, downstream enterprises into the market to purchase actively, advance preparation weekend, traders mainly for downstream enterprises to receive goods, the overall transaction is active
.
In the late afternoon, aluminum rose straight up in the month, holders sold at a high price, spot quotations rose all the way, the price was concentrated 14060-14090 yuan / ton, traders were willing to inquire positively, and the transaction was more active
.
In terms of industry, data from the official website of the World Bureau of Metal Statistics shows that the global primary aluminum market supply shortage of 101,000 tons in 2017, of which the primary aluminum output is 9.
85 million tons, and the consumption is 9.
951 million tons; the annual report of Nanshan Aluminum shows that the output of alumina powder in 2016 was 1.
729 million tons, the output of electrolytic aluminum was 847,900 tons, and the net profit was 1.
313 billion yuan, an increase of 134.
30%
over the net profit of Nanshan Aluminum Industry in the previous year.
In terms of inventory, as of April 20, the total social aluminum inventory in the five places in the country was 1.
218 million tons, a decrease of 04,000 tons from last Thursday; overall, the growth of inventory has been curbed, and the demand side has improved
.
On the market, with the release of risk sentiment, the overall commodity market picked up, driving aluminum prices to rebound slightly; Considering the policy expectation of strong supply-side reform in the aluminum market, aluminum prices may continue to fluctuate upward in the medium term, focusing on buying opportunities
below 14,000.
