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On Wednesday, the main contract of Shanghai aluminum opened at 14420 yuan / ton in the morning, and Chinalco sharply lowered the website alumina quotation, coupled with the current seems that consumption in March is difficult to improve, so bears actively smashed the market under the pressure of aluminum prices, the low touched 14200 yuan / ton, the end of the session narrow range closed at 14260 yuan / ton, down 125 yuan / ton, down 0.
87%.
In terms of external trading, Lun aluminum opened at 2141 US dollars / ton in the morning, and the Asian market at the beginning of the Lun aluminum slightly touched the 5/10 daily moving average to touch 2147 US dollars / ton after opening the downward mode, the low once touched 2134 US dollars / ton, entering the European trading session, Lun aluminum accelerated downward, the low touched 2128 US dollars / ton, as of 16:51, Lun aluminum reported 2132.
5 US dollars / ton, short-term aluminum prices maintained weak shocks, need to continue to observe the price guidance
given by changes in consumption at home and abroad.
In terms of the market, the Shanghai trading concentration was 14030-14060 yuan / ton before the afternoon, the discount for the month was 140-130 yuan / ton, the Wuxi transaction concentration was 14030-14060 yuan / ton, and the Hangzhou transaction concentration was 14050-14070 yuan / ton
.
Aluminum futures rose yesterday afternoon, resulting in a slight expansion of spot discounts, positive shipment attitude of holders, middlemen looking for a larger discount of supply, downstream enterprises high on-demand procurement, the overall transaction fell compared with yesterday
.
In the late afternoon, aluminum fell sharply, and the transaction price in East China was 13940-13970 yuan / ton
.
At present, it seems that the time point of the arrival of the downstream consumption season has been delayed, first, the restrictive impact of the heating season has not been eliminated, second, the downstream customers of processing enterprises generally resumed work late this year, and third, the construction site in North China due to factors including weather, the two sessions and other factors to resume work delayed, so the current demand side has not improved, short-term aluminum prices are likely to be weak and
shocked.
However, demand will only be delayed, not disappeared, and there is still a peak season expected in
the second quarter.
Market News:
1.
The Aluminum Association suggested that Trump consider other ways to stop cheap aluminum flowing into the United States, including direct negotiations with the Chinese government to reduce overcapacity and provide exemptions
for important trading partners.
2.
While the world is closely watching US President Trump's next move on steel and aluminum tariffs, the EU has quietly stepped in to further strengthen anti-dumping sanctions
on China's stainless steel pipes.
