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On Tuesday, the main contract of Shanghai aluminum opened at 14900 yuan / ton in the morning, the intraday long and short game was fierce, the bulls took the initiative to enter the market at the beginning of the session to push up the aluminum price to touch 14980 yuan / ton, but close to the 10,000 mark bears face the enemy head-on, aluminum prices under pressure quickly fell back to 14925 yuan / ton around the shock, the afternoon bears continued to exert pressure to make the bulls expand the scale of exit, aluminum prices continued to fall back to close at 14890 yuan / ton, Shanghai aluminum index positions increased by 5308 hands to 704848 lots, short-term aluminum prices lack of new themes to attract capital games, The trend returns to fundamentals and maintains a weak volatility market
.
In terms of the external market, in the morning, Lun aluminum opened at 2315 US dollars / ton, the beginning of the session slightly downward stepped back to 2304.
5 US dollars / ton, 2300 US dollars still supported, quickly repair the decline around the daily average of 2312 US dollars / ton a narrow range of oscillation, into the European trading session, the dollar fell, non-ferrous metals went higher, Lun aluminum shock upward touch 2327 US dollars / ton, and then in the base metal overall rally, Lun aluminum fell back to around 2315 US dollars / ton, short-term overseas aluminum market has not changed greatly, It is expected that Lun Aluminum will continue to fluctuate and pay attention to the guidance
of the US dollar.
In terms of the market, before the afternoon, the Shanghai transaction concentration was 14720~14730 yuan / ton, the discount for the current month was 40~20 yuan / ton, the discount for the next month contract was about 120 yuan / ton, the Wuxi transaction concentration was 14720~14730 yuan / ton, and the Hangzhou transaction concentration was 14750~14760 yuan / ton
.
Holders are actively shipped, middlemen have no room for operation, and there is a slight stock before the downstream holiday, the overall transaction is cold, and the supply exceeds demand
.
In the afternoon, the transaction price in East China was 14700~14730 yuan / ton
.
In terms of news, Hydro's recent request to resume production at Hydro's Brazilian alumina plant was again rejected by a Pará state court because Hydro did not provide measures
to restore the environment.
Early rumors that Hydro will resume production in June have been shattered, and it is expected that it may be difficult to resume production
before the Brazilian election in October.
At present, alumina continues to decline, aluminum price costs have moved down, and short-term aluminum prices are weak
.
However, Lun aluminum inventories continue to decline, and if Hydro alumina cannot resume production, it may stimulate overseas alumina prices to strengthen and pay attention to overseas alumina prices
.
Short-term aluminum prices are lower, taking the logic of compressing electrolytic aluminum profits, and long-term still need to pay attention to changes
in supply and demand.
