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On Monday, the main contract of Shanghai aluminum 1807 fluctuated in a narrow range around 14800 yuan / ton, the operating range was 14850-14735 yuan / ton, and the end of the day closed at 14800 yuan / ton, down slightly 0.
17% from the previous trading day's closing price, and the daily closing price of Shanghai aluminum was close to the level of May 18 in the year, and initially ran above the moving average group
.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between the Shanghai aluminum 1807 contract and the 1808 contract narrowed to 70 yuan / ton
.
On the external side, the LME market is closed and trading
will resume on Tuesday.
As of last Friday, the 3-month LME aluminum was reported at 2266 US dollars / ton, down 1.
1% per day, and the current Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, and the short-term operating range of London aluminum focuses on 2230-2300 US dollars / ton
.
In terms of the market, on May 23, Shanghai aluminum trading concentrated 14490-14500 yuan / ton, the discount for the month was 80-70 yuan / ton, Wuxi transaction concentrated 14490-14500 yuan / ton, Hangzhou transaction concentrated 14500-14520 yuan / ton
。 In the early stage of trading, the market transaction price was concentrated at 14470-14480 yuan / ton, and the later market rose, the spot price followed, and the cargo attitude of the holders was still positive, but the spot discount showed no signs of expansion, the trade between middlemen was more frequent than the previous day, the spot price fell sharply, the downstream enterprises wait-and-see sentiment breeded, and the overall transaction fell slightly from the previous day
.
In terms of industry, the United States proposed to the EU that the total amount of steel and aluminum products exported to the United States in 2018 will be reduced by 10% compared with 2017
.
It is reported that the United States has proposed to achieve the goal
of reducing EU exports by 10% through quotas and tariffs.
The EU side reflects that the United States is very tough
on this.
In terms of inventory, the aluminum warehouse receipt in the previous period was 809363 tons, down 2373 tons
from the previous trading day.
As of May 25, LME aluminum ingot inventories were 1222850 tons, down 5,050 tons
from the previous session.
During the day, the Shanghai aluminum 1807 oscillation sorted out to 14800 yuan / ton, as the US dollar index maintained a relatively strong position
.
However, domestic aluminum inventories have recently shown signs of reduction, which has brought some support
to aluminum prices.
Operationally, it is recommended that the Shanghai aluminum 1807 contract can sell high and low between 14700-14900 yuan / ton, and the stop loss is 100 yuan / ton
each.
