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Trade Service
On Tuesday, the main contract of Shanghai aluminum 1805 contract oscillated and rebounded, trading at 14290-14515 yuan / ton during the day, and closing at 14440 yuan / ton at the end of the day, up 1.
01% per day, weaker than other base metals, hitting a low since February 22 this year
.
Shanghai aluminum continued the positive arrangement of near low and far high, of which the positive price difference between Shanghai aluminum 1804 contract and 1805 contract remained at 85 yuan / ton
.
In terms of the external market, Asian Lun aluminum around 2150 US dollars / ton around a narrow range, of which 3 months Lun aluminum trading at 2157-2142 US dollars / ton, now closed at 2148 US dollars / ton, a slight increase of 0.
12% per day, the current Lun aluminum fell into a low oscillation finishing, showing that the upper selling pressure is heavier, the lower support is concerned about 2100 US dollars / ton, short-term Lun aluminum performance is weaker than Shanghai aluminum, suppressed by the strengthening of the US dollar
.
In terms of the market, on March 6, Shanghai aluminum trading concentrated 14060-14070 yuan / ton, the discount for the month was 130-120 yuan / ton, Wuxi transaction concentrated 14060-14070 yuan / ton, Hangzhou transaction concentrated 14060-14080 yuan / ton
.
The discount narrowed, the willingness of the holders to ship increased, but at the same time showed a price attitude, the middlemen mainly received goods for the downstream, the consumption of downstream enterprises slowly picked up, and the overall transaction was average
.
The price of South China aluminum ingots was 14090-14190 yuan, with an average price of 14140 yuan, up 70 yuan
.
Aluminum ingots arrived a lot, coupled with the impact of automobile aluminum ingots, the market supply is very abundant, the spot transaction price is concentrated in 14120-14140 yuan, compared with the South China South China average price premium -20~0 yuan
.
Nanchu East China aluminum ingot quotation 14020-14060 yuan, the average price is 14040 yuan, up 70; Yangtze River: 14050-14090, 14070 up 120
.
Futures rose weakly, the supply of goods was very abundant, the holders adjusted the price of shipments, and the trading was average
.
The transaction price fell from 14090 yuan to 14050 yuan, which was +10~+50 yuan
higher than the average price of South China East China.
On the macro front, the Asian dollar index fluctuated in a narrow range around 90, indicating a weak rebound as U.
S.
economic data performed moderately, with the U.
S.
ISM non-manufacturing PMI at 59.
5 in February versus 59.
9 expected and 59.
9 in January, while the final Markit services PMI in February was 55.
9, the highest since August, with a preliminary reading of 55.
9 and a final value of 53.
3
in January.
In addition, the RBA kept interest rates unchanged as scheduled, and AUD/USD retreated, indicating some selling pressure
above.
In terms of industry, it is reported that Malaysia's bauxite mining ban was extended until June 30 this year, because it is still dealing with uncleared stocks
.
During the day, Shanghai aluminum 1805 bottomed out to 14440 yuan / ton, basically recovering the previous lost ground, but as domestic inventories continued to reach new highs, supply pressure increased, aluminum price rebound height is limited, or will continue the low oscillation trend
.
It is recommended that the Shanghai aluminum 1805 contract can be sold high and low between 14300-14600 yuan / ton, and the stop loss is 120 yuan / ton
each.
