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Futures market, on Monday, the Shanghai aluminum main month 1810 contract opened at 14790 yuan, intraday high 14865 yuan low 14725 yuan, and closed at 14735 at the end, unchanged
from the previous trading day.
The market is optimistic about the intensity of production restrictions in this year's heating season, and stabilized after the Shanghai aluminum shock within the day, and the market is currently mainly concerned about the results of the hearing on the US 200 billion tariff on China, and the market remains cautious until then
.
On Monday, the UK bank holiday is one day off and the LME is closed
.
In terms of spot, the circulating supply in the market is abundant, the overall transaction of the spot market is flat, East China is basically purchased on demand, the performance in the second half of the transaction in the northern region is poor, and the shipment is still light
with twice the discount in East China.
In terms of inventory, domestic spot electrolytic aluminum stocks decreased by 03,000 tons month-on-month to 1.
648 million tons; data showed that domestic electrolytic aluminum spot stocks were 1.
738 million tons, down 23,000 tons
from the previous Thursday.
Lun aluminum inventory was 1.
0951 million tons, down 04,900 tons from the previous month; Shanghai aluminum warehouse receipts were 721,500 tons, an increase of 0.
02 million tons
from the previous month.
Aluminum industry news:
According to the General Administration of Customs, scrap metal imports in July fell 31% year-on-year to 410,000 tonnes, but still increased by 2.
5%
from June.
Aluminum scrap imports in July were 120,000 tonnes, down 25.
6% year-on-year and up 9%
month-on-month.
A certain alumina enterprise exported a ship to a related aluminum plant in India, and the FOB price reached 560 US dollars / ton, which was converted to a domestic factory price of about 3700 yuan / ton, setting a new high
in the export price of alumina this year.
The latest traded alumina price of $580.
5/mt in the national aluminum industry of India (NALCO) rose $35.
5/mt
from $545/mt traded earlier this month.
The price of alumina is inverted, and there is still room
for China's alumina exports.
The national average spot price of alumina was 3205 yuan / ton, up more than 100 yuan / ton
from last week.
Alumina is expected to maintain its rally
this week.
Overall, for aluminum, the current domestic electrolytic aluminum cost will rise with the rise in prices such as alumina, superimposed on the overseas Alcoa strike, Rusal or early shutdown of production capacity, Hydro incident, aluminum prices upward trend is clear
.
However, demand is still in the off-season, the decline in inventory has slowed down, and the upward driving force of aluminum prices has weakened
.
It is expected that the operating range of Shanghai aluminum is 14300 yuan / ton - 15000 yuan / ton
.
