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On Monday, the main monthly 1812 contract of Shanghai aluminum opened at 14155 yuan, with an intraday high of 14265 yuan and a low of 14100 yuan, and closed at 14190 at the end of the day, down 5 yuan / ton
from the previous trading day.
Domestic alumina exports surged, aluminum profits increased year-on-year, good development prospects to provide support for the aluminum market, Shanghai aluminum fell slightly within the day, is expected to maintain the volatility market in the short term
.
Abroad, the decline in U.
S.
stocks once again caused a surge in risk aversion in the capital market, with Lun Aluminum falling slightly, and the lower support focused on $
1900.
At 15:48 Beijing time, the LME 3-month aluminum was $2,000, down $6 from the previous session
.
In terms of the market, the spot trading price of Yangtze River was 14090-14130 yuan / ton, up 30 yuan / ton; Guangdong South Reserve reported 14160-14260 yuan / ton, up 40 yuan / ton; Hua reported 14210-14230 yuan / ton, up 30 yuan / ton; The average domestic spot trading price is between
14110-14150 yuan / ton.
Intraday aluminum rose slightly, and holders shipped positively, but downstream companies maintained on-demand procurement, and market transactions were average
.
Market News:
1.
Rio Tinto, the world's second-largest mining company, announced that an agreement to transfer its stake in the $20 billion Simandou iron ore project in Guinea to its Chinese partner Aluminum Corporation of China has lapsed
.
2.
Audi's three plants in Neckarsulm, Germany, Györ in Hungary and Brussels, Belgium, manufacture and assemble high-capacity batteries for Audi e-tron electric vehicles, and the material management of aluminum components in these three plants has passed the ASI performance standard certification
.
On Friday, Lun aluminum once updated its recent low, Shanghai aluminum closed weakly, and the recent rise in the dollar was under pressure
.
From the perspective of the aluminum industry chain, there is no obvious bullish drive, although there have been recent aluminum plant production
cuts.
From a macro perspective, the recent negative transmission of macro to micro demand has gradually confirmed signs, with industrial company profits released on Saturday updating a new low since March, and manufacturing PMIs in the peripheral Eurozone, Germany and France all falling short of expectations, which is also bearish for non-ferrous metals
.
