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On Thursday, the main contract of Shanghai aluminum 1805 contract oscillated stronger, trading at 14500-14365 yuan / ton during the day, and closing at 14460 yuan / ton at the end, up 0.
31% per day, performing better than other base metals, highlighting the rising momentum of aluminum prices
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between the Shanghai aluminum 1804 contract and the 1805 contract narrowed to 70 yuan / ton
.
In terms of the external market, Asian aluminum oscillation rebound, of which 3 months Lun aluminum trading at 2153-2127 US dollars / ton, now closed at 2142 US dollars / ton, up 0.
52% per day, the current Lun aluminum is still running below the main moving average group, showing that the upper selling pressure is heavier, the lower support is concerned about 2100 US dollars / ton, short-term Lun aluminum performance is weaker than Shanghai aluminum, suppressed by the strengthening of the US dollar
.
In terms of the market, on March 1, Shanghai aluminum trading concentrated 14130-14150 yuan / ton, the discount for the month was 130-120 yuan / ton, Wuxi transaction concentrated 14130-14140 yuan / ton, Hangzhou transaction concentrated 14140-14160 yuan / ton
.
Large households are not willing to ship, spot discount narrowed to 130-120 yuan / ton, attracting small and medium-sized traders to actively ship, market circulation sources increased, traders in the perspective of buying and selling the market changed, the market changed from buying atmosphere to selling atmosphere, downstream enterprise consumption activity gradually picked up, the overall transaction fell compared with the previous day
.
On the macro front, U.
S.
President Donald Trump's trade policy outline to Congress states that the United States will use all available tools to prevent China from undermining real market competition
.
According to public media reports, the White House may announce a major decision
on import tariffs on steel and aluminum products on March 1, US time.
Recently, the US trade protection policy has gradually upgraded, and after the aluminum import tariff has landed, it may drive the price of aluminum to stabilize and strengthen
.
In terms of industry, on March 1, SMM statistics on the social inventory of electrolytic aluminum (including SHFE warehouse receipts) in 8 mainstream consumption areas in China: the total inventory of aluminum ingots in 8 places was 2.
126 million tons, an increase of 167,000 tons
from last Thursday.
During the day, the Shanghai aluminum 1805 oscillation rose to 14460 yuan / ton
.
After the short-term aluminum price continued to fall, facing the demand for over-fall rebound, but as domestic inventories continued to reach new highs, supply pressure increased, and the height of aluminum price rebound was restricted, it was recommended that the Shanghai aluminum 1804 contract can be sold high and low in the range of 14400-14600 yuan, with a stop loss of 100 yuan / ton
each.
