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Domestic Aluminum Inventory Large Increase In Aluminum Prices Still Face Pressure
Feb 23, 2018

Shanghai Aluminum Main month 1804 contract opened 14275 Yuan, medium high 14280 yuan low 14030 yuan, the tail plate to 14125, aluminum prices than the previous trading day fell 145 yuan/ton. On the external side, the continued increase in the number of al-Lun stocks reached more than five months high, indicating weak market demand, the U.S. economic outlook boosted the dollar index higher, days of the collapse of aluminum, the bottom of the support of 2100 U.S. dollars.

Market, the Yangtze River spot transaction price 13670-13710 yuan/ton, fell 340 yuan/ton; Guangdong South Reserve newspaper 13790-13890 Yuan/ton, fell 260 yuan/ton; China bulletin 13790-13810 Yuan/ton, down 310 yuan/ton The domestic spot transaction average price is between 13690-13730 yuan/ton. Within days of the sharp decline in aluminum, shippers are not willing to ship shipments, the market is limited supply of goods, intermediaries active access but difficult to find sourcing, market transactions can be.

Market News:

1, the United States intends to import steel and aluminum products to levy heavy taxes and impose quotas and other import restrictions, the U.S. Trump government will be plunged into embattled, boomerang situation.

2, the U.S. Department of Commerce proposed that the aluminum import tariff of 7.7%, but for the Russian, China, Hong Kong, Venezuela and Vietnam and other land, the imposition of 23.6% import tariffs. The quota system is applied to countries other than those countries.

In terms of news, during the spring Festival, the domestic aluminum inventory is approaching 2 million tons, the U.S. Department of Commerce on aluminum imports Anti-dumping program has been set, for the domestic aluminum price is still facing a pressure, after the complex labor unrest has not come, aluminum ingot inventory will be accumulated, combined with the heating season after the end of the cost may face further weakness, the short-term price of aluminum will still be under pressure. Futures plate, Shanghai Aluminum main MACD dead fork, Kdj dead Fork, prices again below the low, short-term trend is still not optimistic.


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